Cyber Run

From Open Risk Manual

Definition

A Cyber Run is a specific Bank Run scenario in which a significant cyber attack on a bank’s deposits, whether by theft, data corruption, or denial of access, may lead wholesale depositors in the same and other large banks to withdraw their funds rapidly enough to threaten the liquidity of these institutions or the effectiveness of the payment system.[1]

See Also

References

  1. Duffie, D. and Younger, J. (2019), “Cyber runs: How a cyber attack could affect U.S. financial institutions”.

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