Cyber crime
BoE’s Nelson warns against ‘rigid’ approach to op risk
Firms may fear the “wrath” of regulators, but rules should not offer guarantees, says official
Most central banks hold annual cyber security training sessions
One-third of central banks hold training every 0–6 months
Cyber security and retaining top talent are biggest tech challenges
Keeping abreast of fintech developments also tests institutions
Central banks use varied cyber defence playbook
Cyber security training for central bank staff occurs at least once a year
Cyber attacks on finance increased sharply during pandemic – BIS
Increased use of cloud could increase firms’ vulnerability, researchers warn
Ulrich Bindseil on the launch of the digital euro
ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC
RBNZ appoints KPMG to report on data breach
Report due by end of March and will be considered with Deloitte review of accidental leak
MAS enhances cyber risk guidelines as risks grow
Authority warns “spate” of cyber attacks have targeted suppliers of IT services
RBNZ announces independent inquiry into data breach
Governor takes personal responsibility and says NZ financial system remains sound
RBNZ suffers data breach in third-party system
Governor says breach is “contained” and investigations are ongoing
Bailey urges co-operation on cyber risk
BoE governor says cyber risks can “go the distance”
MAS warns firms over third-party cyber risks
Ravi Menon warns of risks from open source software and third-party service providers
RBNZ warns of cyber risk from cloud
Draft guidelines would mandate firms to notify RBNZ over outsourcing critical functions to cloud
Belize’s central bank must improve cyber regulation – IMF staff
IMF staff warns central bank must upgrade physical resilience in face of hurricane threat
BoE’s Stheeman sets out expectations on cyber resilience
Policy-makers will be guided by cyber stress-testing and “impact tolerances”
Covid-19: a hacker’s opportunity
What can central banks do to plug cyber threat weaknesses?
RBNZ’s Sam Allen on embracing the cloud
Central bank took a calculated risk in moving financial markets group to cloud platform
FSB consults on cyber attack ‘response and recovery’
“Efficient and effective response” is critical to minimising the financial stability impact, report says
Cyber risks cost 2-3% of profits at banks and insurers – RBNZ research
New Zealand central bank finds chance these threats may cause much greater losses
‘Systemic cyber incidents’ could cause major damage – ESRB
EU body says cyber attacks could reach “tipping point” and freeze financial sector
IMF-MAS research says cyber risks can be modelled with limited data
Public data can be used to create unique formulae to model hypothetical cyber attacks
Bank of Italy and regulator agree joint cyber security strategy
New approach will aim at guarding specific types of financial market infrastructure
Cyber attack could freeze liquidity in US financial system – NY Fed paper
Attack on one bank could affect more than a third of banking system’s assets, researchers warn
Cyber security suffers from inconsistent approaches, says IMF’s Lipton
Emerging markets struggle to implement international recommendations