Working from home fuels cyber attacks, putting financial firms ...

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Working from home fuels cyber attacks, putting financial firms at risk

The attacks grew to 200,000 a week in April, from less than 5,000 a week in February last year

Huw Jones

Financial firms may need to bolster their defences in the face of rocketing cyber attacks after employees began working from home, the Switzerland-based Financial Stability Board (FSB) said on Tuesday.

The FSB, which coordinates financial rules for the G20 group of nations, said remote working since economies went into lockdown to fight Covid-19 opened up new possibilities for cyber attacks. Working from home is expected to stay in some form across the financial services industry and beyond.

“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks...

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