IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms
The risk of “extreme losses” from cyber attacks is on the rise, International Monetary Fund (IMF) officials have warned.
Fabio Natalucci, Mahvash Qureshi, and Felix Suntheim argue the financial sector is particularly vulnerable. Spillovers, reputational damage and disruptions in critical infrastructure could threaten economic and financial stability, they say in a blogpost published on April 9.
The officials say they have observed some evidence of cyber-induced run behaviour at smaller banks.
“Loss
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