UK and US Bankers fear cyber attack more than economic crisis

December 8, 2015

The Banking Banana Skins survey of 627 bankers, observers and risk regulators conducted by PricewaterhouseCoopers (PwC) showed that other bankers in the rest of the world list economic crisis as their biggest fear.

Commissioned by the Study of Financial Innovation (CSFI), the survey found that criminality is now ranked second globally, because of the alarming rise in cybercrime and fraud.

“We may at some point see a cyber-attack so powerful on an individual bank that it has the power to bring down the institution, necessitating a state bailout,” said Simon Samuels, a banking consultant in the UK.

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