A ransomware attack on an Irish-based firm has caused havoc in commodities markets
In recent years, the financial sector has quietly slid into a state of high dependence on third-party tech vendors, both big and small
The other issue is that malicious attacks on western financial and business infrastructure are accelerating, both from hostile governments such as Russia and criminal gangs. “A 2022 survey of 130 global financial institutions found that 74 per cent experienced at least one ransomware attack over the past year,” says Christy Goldsmith Romero, a CFTC commissioner.
But these reforms still seem far too modest to resolve the problem. One reason is that the border-hopping antics of tech vendors such as Ion can easily slip between the cracks of national regulators, without better co-ordination. In any case, it does not seem either feasible or fair to expect financial companies to police these tech vendors themselves.
However, this heavy-handed state control would be wildly controversial in a country such as the United States, since it seems to contradict corporate governance principles and the cult of market innovation. So another, more realistic, route would be to expand the regulatory perimeter – and ask financial regulators to scrutinise tech vendors and other digital companies themselves.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
7 Things You Didn't Know Affect Your Contraceptive Pill | StellarSTELLAR Magazine, Irish Fashion, Irish Women's Magazine, Irish Beauty, shops in Ireland, celebrity news, glossy magazine, Fade Street, make-up tips, Irish style, Vip Magazine Group
مزید پڑھ »
Brexit has yet to deliver any benefit to services sector - London lord mayorIrish-born City chief visiting Dublin to foster closer cooperation between financial services sectors across the Irish Sea via IrishTimesBiz
مزید پڑھ »
Almost one in five Irish firms hit by cyber attack or data breach in 2022Research finds most senior business leaders plan to increase investment in cyber security and resilience in the coming years
مزید پڑھ »
Irish connections, NWSL and athletics background and chasing the World Cup dreamUS-born Marissa Sheva has had an interesting journey to joining Vera Pauw's squad in Marbella.
مزید پڑھ »
Vera Pauw: ‘I hate the day when I have to tell who is not going to the World Cup’With Irish players struggle for club minutes added emphasis will be put on warm-up matches
مزید پڑھ »
Matthew Callinan Keenan chasing fresh heights for Irish pole-vaultingStill only 22, the Carlow athlete can land a third Irish senior indoor title at the Sport Ireland Arena on Sunday
مزید پڑھ »