Could a cyber attack lead to financial crisis?
Manninen, Otso (09.06.2015)
Volyymi
89Numero
2/2015Julkaisija
Bank of Finland
2015
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201506101284Tiivistelmä
If loss in interbank confidence regarding banking sector balance sheets intensified the crisis in 2008, banks’ faltering confidence in other banks’ systems could cause the next crisis, experts warn. Confidence is vital to the financial system, and as account balances are situated in cyberspace, confidence in the numbers on the screen is of the utmost importance. From a practical point of view it is irrelevant whether a loss of confidence is due to the realisation of financial market risks or cyber risks.