Cyber attack: one of the biggest risks for the global economy?
The president of the US Central Bank has ruled in an interview that a cyberattack is one of the greatest risks to global finance.
Should we fear that hackers destabilize the planet's economy? The president of the US Central Bank is more worried about the risk of a large-scale cyberattack than of a global financial crisis similar to that of 2008. The risks of a crisis resembling that of 2008 with a need for a bailout of the banks by governments "are very, very weak", said Jerome Powell, during the 60 minutes program on the American channel CBS news.
" The world changes. The world evolves. And the risks too. And I would say the risk we watch the most is cyber risk, ”he said, adding that this is a concern shared by many governments, large private companies, especially financial ones. It is also against this risk that all these players invest the most.
Jerome Powell pointed out that the Federal Reserve (Fed) is looking at different types of scenarios. “There are scenarios in which […] the payments system cannot function. Payments cannot be made. There are scenarios where a large financial institution would lose the ability to track the payments it makes and things like that, ”he detailed.
The Fed is also considering the possibility that part or even a large part of the financial system could shut down. "We therefore spend a lot of time, energy and money to guard against that," said the boss of the powerful institution, recalling that cyber attacks target large institutions "every day".
After the health crisis, the digital crisis?
Nothing could be more logical when you look at it closely.