Difference between revisions of "Cyber Run"
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== Definition == | == 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.<ref>Duffie, D. and Younger, J. (2019), “Cyber runs: How a cyber attack could affect U.S. financial institutions”.</ref> | + | 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.<ref>Duffie, D. and Younger, J. (2019), “Cyber runs: How a cyber attack could affect U.S. financial institutions”.</ref> |
== See Also == | == See Also == | ||
Latest revision as of 17:08, 29 September 2021
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
- ↑ Duffie, D. and Younger, J. (2019), “Cyber runs: How a cyber attack could affect U.S. financial institutions”.
