Cyber attacks on finance increased sharply during pandemic – BIS
Increased use of cloud could increase firms’ vulnerability, researchers warn
The Covid-19 pandemic has seen a spike in cyber attacks on financial services firms, new research from the Bank for International Settlements says.
Iñaki Aldasoro, Jon Frost, Leonardo Gambacorta and David Whyte note in the latest BIS bulletin that Covid-19-related attacks “grew with the spread of the pandemic”, from fewer than 5,000 per week in February to more than 200,000 per week in late April.
“They rose further by around one-third in May and June compared with March and April,” the
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Cyber
Cipollone calls for team spirit to combat cyber attacks
ECB board member says supervisors and industry will need to collaborate more to tackle growing threat
Cyber security goes beyond preventing attacks – panel
Policy-makers should shift focus to damage mitigation, say officials at Central Banking Autumn Meetings
Financial sector facing increased cyber risks – DNB official
Deputy governor says institutions’ dependence on vital infrastructure makes them vulnerable to attack
BdF and MAS complete test on post-quantum cryptography
Technology used to secure emails can be adapted for payments, authorities say
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology
Norges Bank’s market operations fixed after global outage
Liquidity operations resumed on Friday following hourly calls with third-party service provider
Ransomware payments can be necessary, say panellists
Paying off hackers may be only way to safeguard financial stability, despite risks
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training