$645 Billion Cyber Risk Could Trigger Liquidity Crisis, ECB’s Lagarde Warns

ECB president Christine Lagarde has warned that a coordinated cyber-attack on a major financial institution could trigger a liquidity crisis

Referring to a European Systemic Risk Board (ESRB) report that estimates the global cost of cyber-attacks at anything up to $654 billion (£507 billion), Lagarde said that “As an operator of critical infrastructures, the ECB obviously takes such threats very seriously.”

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