OpRisk North America: Cyber interconnectivity causing systemic risk


Systemic risk as a result of banks' cyber interconnectivity is becoming a key risk for financial institutions, delegates at OpRisk North America in New York heard this week.

The transfer of data occurring through this interconnectivity can put many banks at risk in the event of certain types of cyber attack, warned Adrienne Haden, assistant director, operational risk and IT risk policy at the board of governors of the Federal Reserve System.

"Some of the key areas of concern for risk management

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