Central banks fear CBDC will heighten cyber threats
European jurisdictions less likely to be deterred by security concerns
The majority of respondents to the Fintech Benchmarks 2024 expect cyber risk to increase as central bank digital currency (CBDC) becomes more widespread.
Twenty-nine (80.6%) of the 36 participating institutions anticipate an increase in cyber risk as a result of CBDC.
European respondents are less likely to see CBDC as a harbinger of cyber risk. Five (41.7%) of 12 central banks say CBDC will not increase risk. Two (22.2%) of nine central banks from Asia-Pacific share the same perspective.
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