Cyber threats could cost banks about $100B annually, IMF says
By Megan Henney
FOXBusiness
Federal Reserve Chairman Jerome Powell warned that cyber threats pose a bigger threat to the U.S. economy than the risk of another systemic breakdown in the financial system seen during the 2008 recession.
During an interview with CBS’ “60 Minutes” that aired on Sunday night, Powell said that policymakers at the U.S. central bank believe cyberattacks on financial institutions that halt their ability to track payments could trigger a market collapse similar in magnitude to the global financial crisis.
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https://www.foxbusiness.com/economy/federal-reserve-jerome-powell-cyber-threats-us-economy
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