According to the Cybersecurity and Infrastructure Security Agency, eight out of 10 organizations had at least one user fall for a phishing attempt, and one out of 10 phishing emails resulted in a user opening a malicious attachment or accessing a malicious internet link.3 Banks regularly perform exercises testing employee vulnerability to these kinds of targeted attacks.
While many of these may be in the form of direct exposures, linkages may be under the radar screen of regulators and take the form of implicit guarantees or exposures in derivatives and funding markets. 3. What are the policy options?