Sarb governor stresses need for cooperative approach against cyber risk
New legislation will give central bank power over financial stability
The governor of the South African Reserve Bank has urged the financial industry to take a more "proactive" approach and embed a "healthier" cyber culture as cyber risk becomes a growing threat to financial stability.
Speaking at the bank's cyber security conference, Lesetja Kganyago stressed the need for a collaborative approach when tackling cyber risk. "We cannot address this problem in isolation," he said, "our cyber defences are as strong as the weakest link."
As a result, the governor
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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Cyber
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training
IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms
IMF hit by cyber attack
Fund says attack did not target top leader and it has “re-secured” 11 compromised email accounts
Riksbank HR system restored 17 days after ransomware attack
Other incidents using Akira software reported across the world since 2023
Head of Romania’s central bank ‘deepfaked’ by scammers
NBR says fraudsters’ use of AI-generated video points to increasing risks from manipulated imagery
Swedish central bank affected by ransomware attack
Riksbank’s HR and payroll reportedly still impeded after hackers targeted third-party cloud provider
ECB prioritises IT outsourcing and cyber resilience supervision
Institutions lost $161 million due to poor-quality outsourced services in 2022
Central Bank of Ireland suffers credit data breach
Over 20,000 borrowers’ credit scores impacted by “archiving error”
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity