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

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 [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: