Systemic Cyber Risk
From Open Risk Manual
Contents
Definition
Systemic Cyber Risk concerns the possibility that Cyber Risk events may reach Systemic Risk proportions, especially in the context of the Financial Services industry
Background
To date, the financial sector has not experienced any cyber incidents that have threatened financial stability. However, as argued in[1] an intentional incident with the goal of destabilising the financial system could, in certain circumstances, trigger a systemic crisis.
See Also
References
- ↑ ESRB, Systemic Cyber Risk, February 2020
