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    Managing Cyber Risk in the Financial Sector

    About

    Christine Lagarde, the President of the European Central Bank (ECB), has warned that a cyberattack on a major financial institution could trigger a liquidity crisis. On Feb 5th 2020, Lagarde said that any significant operational outages that encrypted or destroyed account balances could trigger a liquidity crisis. “History shows that liquidity crises can quickly become systemic crises” “The ECB is well aware that it has a duty to be prepared and to act pre-emptively.” During her speech, Lagarde went on to reference the ESRB (European Systemic Risk Board) report that contains estimates of global cyber attacks that could be in the region of €500 billion. The ECB itself and of course the global financial sector is no stranger to cyber attacks and will continue to be a massive target for cyber threat actors. The impact of Covid-19 on society and the sector has shifted the inherent cyber risk of most institutions and provided opportunities for OCG’s (Organised Crime Groups). Therefore the sector itself must raise their game and work together to build defences and a stronger ecosystem. Cyber resilience is key for the financial sector and the ECB has articulated their minimum expectations. The leaders of the financial sector need to gain an understanding of the key issues and challenges so they can develop appropriate strategies. Join Paul C Dwyer – CEO of Cyber Risk International has he outlines the challenges of managing cyber risk in the financial sector and key strategies to adopt. More at www.cri.ie

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    Date

    Sep 21 2021

    Time

    ET
    6:00 am - 7:00 am

    Cost

    Free
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