Iosco considers response to ‘growing threat’ of cyber risk
Securities firms and regulators are at an early stage in responding to cyber threats, report finds
Firms and regulators need to prepare defences against the "growing and significant threat" posed by cyber risk, the International Organization of Securities Commissions (Iosco) said on April 6.
"In a highly interconnected and interdependent financial ecosystem, cyber attacks may have systemic implications for the entire financial system, and also affect over time the trust on which financial markets are built," the organisation said.
However, work in identifying, preventing and responding to
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