Cybercrime could be ‘next black swan event’: Australian regulator

Australian Securities and Investment Commission chairperson Greg Medcraft has used the ASIC Annual Forum to issue a warning about the potential for poor information security to destabilise financial markets.”Cybercrime is a systemic risk and I think it is the next black swan event,” Medcraft said in remarks prepared for the conference. see:Companies not prepared enough for web attacks
Cybercrime is a systemic risk and could be the next ”black swan” event, the head of Australia’s corporate regulator says, as senior business executives warned companies were not sufficiently prepared for such dangers.Technological advancements had fuelled a ”significant growth” of cybercrime across the world – taking it to an estimated annual cost of $110 billion, the chairman of the Australian Securities and Investments Commission, Greg Medcraft, said on Monday.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.