Research conducted by the Federal Reserve Bank of New York found that a cyberattack on a major US bank could have overarching effects on other lenders, and even disrupt the greater financial system.
The post-mortem report prepared by the federal bank modeled how a cyberattack on a single large bank, a group of smaller banks, or a common service provider could be transmitted through the wholesale payments network.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.