Journal #49: ALTERNATIVE CAPITAL MARKETS

CYBER RISK FOR THE FINANCIAL SERVICES SECTOR

  • Published: 29 April 2019

ANTOINE BOUVERET | Senior Economist, European Securities and Markets Authority

Cyber risk has emerged as a major concern for the financial services sector. In this article, we outline the main channels through which cyber risk can affect a financial institution, and provide some insights based on recent cyberattacks. We also outline a framework that can be used to estimate potential losses due to cyber risk for financial institutions.