CBDCs require increase in cyber security budget – BIS survey

Central bankers deem financial sector underprepared for cyber attacks

Cyber crime

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

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