Market watchdog warns on danger of cyber attack

By Sam Fleming in London, August 24, 2014

A global watchdog has sounded the alarm about the growing danger of cyber attacks, on financial markets, warning that companies and regulators around the world need to address the “uneven” response to the threat of online assaults.

Greg Medcraft, chairman of the board of the International Organisation of Securities Commissions (Iosco), predicted that the next big financial shock – or “black swan event” – will come from cyber space, following a succession of attacks on financial players.

He warned that there needed to be a more concerted effort to tackle cyber threats around the world as current approaches varied widely.

Copyright: The Financial Times, 2014.

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