Cybersecurity: A Global Threat Needs a Global Response

Over two-thirds of global financial institutions have seen an increase in cyberattacks in recent years. In the UK alone, the number of security breaches has increased by over 480%. Cybersecurity is no longer just about firewalls, data encryption, and strong passwords. While those are still necessary, they are not enough to fight a threat that knows no borders. One recent law enforcement operation that started in Spain, busted a cyber gang operating in 15 countries and required coordinated efforts with the FBI, Europol and other private companies. In this podcast, three leading specialists in cybersecurity discuss how to create a safer digital world for financial institutions. Carnegie Endowment's Tim Maurer, IMF's Chris Wilson, and Central Bank of Spain's Silvia Senabre participated in a recent workshop on cybersecurity hosted by the IMF.