
Dr. InfoSec
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The Dr. InfoSec Blog is curated by Christophe Veltsos, PhD, CISSP, CISA, CIPP.
Chris, aka Dr.InfoSec, is passionate about helping organizations take stock of their cyber risks and manage those risks across the intricate landscape of technology, business, and people.
Dr. InfoSec
5y ago
But cyber risk is becoming important for financial stability, too.
As forthcoming analysis from the European Systemic Risk Board shows, there are plausible channels through which a cyber attack could morph into a serious financial crisis.
An operational outage that, say, destroys or encrypts the balance accounts of a major financial institution could trigger a liquidity crisis, and history shows that liquidity crises can quickly become systemic crises.
-- Christine Lagarde, President of the European Central Bank, Feb 5, 2020
Full transcript: https://www.bis.org/review/r200205b.htm Initial ne ..read more