Leaders from the Bank of England and the International Monetary Fund have raised alarms about the increasing risk of cyber-attacks undermining trust in the financial system. During a panel discussion in Bangkok, they highlighted the growing prevalence of fraud through social media and the need for technology companies to take responsibility for the content shared on their platforms.
The IMF recently noted that the threat of significant cyber-attacks is contributing to elevated global financial stability risks. Both officials emphasized the importance of trust in technology and called for enhanced protective measures against cyber threats in financial institutions.