The rise of cyber terrorism poses a significant threat to governments, businesses, and individuals worldwide. Cyber terrorists use information technology to carry out attacks that range from simple hacking attempts to more sophisticated attacks involving malware, ransomware, and zero-day exploits. This paper aims to provide an in-depth understanding of cyber terrorism, with a special focus on zero-day attacks. As the world becomes more digitized and automated, it brings convenience to everyone's lives. However, it also leads to growing concerns about security threats, including data leakage, website hacking, attacks, phishing, and zero-day attacks. These concerns are not only for organizations, businesses, and society, but also for governments worldwide. This paper aims to provide an introductory literature review on the basics of cyber-terrorism, focusing on zero-day attacks. The paper explores the economic and financial destruction caused by zero-day attacks and examines various types of zero-day attacks. It also looks at the steps taken by international organizations to address these issues and the recommendations they have made. Additionally, the paper examines the impact of these externalities on policymaking and society. As cyber-security becomes increasingly important for businesses and policymakers, the paper aims to delve deeper into this aspect, which has the potential to threaten national security, public life, and the economic and financial stability of developed, developing, and underdeveloped economies.
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