There is not a uniform view of the link between cyber risk and systemic risk: some assume a direct link whereas others query the connection.Beyond nation states, the vast majority of independent cyber attackers are currently unlikely to have the capability to systemically impact the financial...

The financial services sector is a prime target for cyber attackers: for four years in a row, it has been the single most attacked industry globally. It is thus only logical that Singapore's regulators have identified cybersecurity as the ‘first priority' on the way towards a Smart Financial...

The Consumer Finance Institute hosted a workshop in February 2017 featuring James Fox, partner and principal at PricewaterhouseCoopers (PwC) and a leading authority on cybersecurity in the financial services industry. He discussed the importance of measuring cyber risk, highlighted some...

Based on technical assistance to central banks by the IMF's Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from the...

In October 2017, the European Systemic Risk Board (ESRB) set up a group whose objective was to examine cyber security vulnerabilities within the financial sector, and their potential impact on financial stability and the real economy. In its first year, the European Systemic Cyber Group (ESCG)...

The Financial Sector's Cybersecurity: Regulation and Supervision identifies prevalent concepts and practices and presents them in a way for financial sector authorities to consider and apply to their respective jurisdictions. Starting with the debate of whether cyber-specific regulations are...