Call us now:
Well worth a read. Jerome Powell is a very influential individual. As the chair of the US Federal Reserve he holds the keys the US economy, managing interest rates, the supply of cash and oversight of US banks. In the enclosed article he reiterates that the risk that we keep our eyes on the most now is cyber risk. Reiterating the concerns raised by the head of the European Central Bank Christine Lagarde in 2020 about the impact of cyber attacks and liquidity.
In interconnected nature of financial services makes it fast and efficient. It also makes it fragile and the impact of cyber attack on a single significant institution, or a broad attack across many companies could impact liquidity across the banking network, triggering a crash similar if not bigger than that of 2008.
#cyberrisk #legal #bankingindustry #financeandeconomy #banking #defence #europe #cybersecurity #security #cyber
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6790539916234276864