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.


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Combatting the ever-changing cyber threats in banking

Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.

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