Bank of England and IMF warn of cyber risks to financial trust
The French supermarket hack heated fridges to 50°C.
Andrew Bailey and Kristalina Georgieva warned that rising cyber fraud and attacks could weaken public trust in the financial system. They spoke at IMF and World Bank meetings in Bangkok, where the Bangkok blueprint on preventing cyber fraud was launched.
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The heads of the Bank of England and the International Monetary Fund warned that rising cyber-attacks risk undermining trust in the financial system.
“rising cyber-attacks risk undermining trust in the financial system”
Andrew Bailey said trust in technology and human control were central to the debate about artificial intelligence.
“for me, it’s about trust in technology and it’s about human control to achieve that trust in technology”
AllegedKristalina Georgieva warned that growing cyber fraud could lead people to leave the formal financial system and keep money outside it.
“we may end up with lots of people with shoeboxes under their beds”