World risks 'cyber Lehman' crisis, Zurich report warns

Interdependence across internet is laying foundations of a disaster

computer security

The near future could see a "cyber Lehman" event which causes a cascade of failure and losses across the internet, with extremely damaging consequences for the financial sector and the rest of the economy, warns a report published yesterday by Zurich Insurance and the Atlantic Council, a US think-tank.

"We are in an extremely homogenised environment which makes it much easier for one failure to become a failure across the system, because you have common dependencies – and that is going to become

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