Bailey, Georgieva warn Bangkok meeting cyberattacks risk undermining public trust
Top financial leaders are sounding the alarm about cyberattacks targeting banks and financial systems worldwide.
At a major meeting in Bangkok, the Bank of England's Andrew Bailey and the IMF's Kristalina Georgieva warned that these attacks could seriously damage public trust in how money moves around the world.
Bangkok blueprint sets cyber fraud principles
Bailey highlighted new risks from AI-driven hacks, like one that messed with supermarket fridge temperatures, and said we need strong controls to keep our systems safe.
He also urged tech companies to step up as scams spread on social media.
Georgieva added that if cyber fraud keeps rising, people might ditch traditional banking altogether.
The event also introduced the Bangkok blueprint, setting out a new set of international principles for avoiding cyber fraud in financial institutions.