Cyber Attack Could Cause the Next Financial Crisis

But the next crisis might not come from a financial shock at all. The more likely culprit: a cyber attack that causes disruptions to financial services capabilities, especially payments systems, around the world.

Criminals have always sought ways to infiltrate financial technology systems. Now, the financial system faces the added risk of becoming collateral damage in a wider attack on critical national infrastructure. Such an attack could shake confidence in the global financial services system, causing banks, businesses and consumers to be stymied, confused or panicked, which in turn could have a major negative impact on economic activity. Read more

Source Harvard Business Review

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2018-12-29T14:51:34+05:30September 17th, 2018|Categories: Cyber Security, FIAKS daily, Security, Swift|Tags: |0 Comments

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