Regulators urged to promote cyber security investment

Public interest in stopping cyber attacks that could trigger bank runs, says Bundesbank researcher

Policies designed to generate increased spending on cyber security could help to reduce the risk of bank runs that might follow a major cyber attack, according to a German regulatory official.

“Despite the growing interest in the topic, we don’t have a framework to think through how cyber attacks might impact banks, and what they might do in terms of investing in cyber security,” said Kartik Anand, an economist at the Deutsche Bundesbank’s research centre.

He was presenting a paper he had co