But did we not already hear such – I would almost like to say “promises of miracle cures” – 25 years ago about the opportunities of the internet? The point I would like to make is this: The internet originally promised a decentralised form of free and equal communication between sovereign individuals. Today, much is concentrated in the hands of a few bigtech firms.
Since the COVID-19 pandemic, we have seen greater interest in customer adoption of digital banking products and utilization of remote work tools by bank employees, both of which have created new opportunities for cyberattacks. Some of these risks are best addressed directly by the bank with assistance from law enforcement, if necessary. Other risks may best be addressed by service providers.