CBDCs require increase in cyber security budget – BIS survey
Central bankers deem financial sector underprepared for cyber attacks
Cybercriminals have been increasing the number of their attacks, posing a risk to financial stability, and pushing central banks – particularly those developing digital currencies – to invest in stronger security.
The Bank for International Settlements today (September 14) published its report on a survey conducted with the Global Cyber Resilience Group on cyber risk in central banking.
The group, set up in 2020, brings together central banks’ chief information security officers to discuss
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Cyber
Cyber security goes beyond preventing attacks – panel
Policy-makers should shift focus to damage mitigation, say officials at Central Banking Autumn Meetings
Financial sector facing increased cyber risks – DNB official
Deputy governor says institutions’ dependence on vital infrastructure makes them vulnerable to attack
BdF and MAS complete test on post-quantum cryptography
Technology used to secure emails can be adapted for payments, authorities say
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology
Norges Bank’s market operations fixed after global outage
Liquidity operations resumed on Friday following hourly calls with third-party service provider
Ransomware payments can be necessary, say panellists
Paying off hackers may be only way to safeguard financial stability, despite risks
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training
IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms