Bank of Lithuania: Cybercrime – The biggest risk for the country's financial system Business



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"Financial services in cyberspace have become both a routine and a necessity for consumers.In such an environment, the financial institutions providing these services must pay particular attention to consumer education and to cybersecurity to provide safer and more reliable financial services in cyberspace. "Tomas Garbaravičius, Board Member, Bank of Lithuania. According to the respondents, the probability of occurrence of the risk of crime and the possible impact on the financial system are the highest in comparison with other risks. According to the survey, in 2018 During the first half of the year, four financial institutions among the 29 surveyed faced a risk of cybercrime and one of them suffered a loss .

<img alt = "Scanpix Photo / The financial system also identifies unsustainable developments in real estate prices or imbalances in the real estate market, however, the threat of overheating of the real estate market in 2018.

Compared to the previous survey, concerns about the potential crisis of the real estate market in the Scandinavian countries and the possible contamination of the Lithuanian financial system have decreased slightly, but this risk remains the biggest risk for the Lithuanian financial system. in five years, which also includes the risk of a sudden increase in risk premiums in the global financial markets and the risk of a fall in exports to Lithuania due to slower economic growth of the main trading partners. [19659004] In the first half of the year, the threat of a deterioration in the financial situation of the m medley was the most widespread. More than half of the financial institutions surveyed (55%) indicated that they badumed a low risk of high or low risk and one-tenth of them indicated that they badumed a higher risk than A low risk. . During a semi-annual survey, no financial institution indicated that it badumed a higher than low risk of risk

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