Cyber attacks could lead to financial crisis – Cœuré

Benoît Cœuré
Benoît Cœuré

“The next financial crisis may well start as a cyber incident,” Benoît Cœuré told an audience in Basel on November 15.

“The stakes have risen,” the executive board member of the European Central Bank said, as cyber attacks have “grown rapidly in scale, scope and sophistication”. Criminals’ targeting of wholesale payment systems meant that “failure to adequately protect against cyber attacks may have far-reaching repercussions”.

The Committee on Payments and Market Infrastructures was working

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