BaFin increases focus on IT risks

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BaFin increases focus on IT risks

By German Federal Financial Supervisory Authority

German’s Federal Financial Supervisory Authority (BaFin) considers cyberattacks and the breakdown of IT systems among the greatest risks for the financial sector in its new report. Such technical disruptions pose risks not only when they occur at banks or insurers themselves: major problems at third-party service providers can also compromise the entire system.

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