Cyberattackers’ ambition and capacity to manipulate and gain direct access to financial data and services may lead not only to severe losses of trust in the global financial sector but also to high costs for market participants and customers.
With today’s financial systems being globally interconnected and dependent on technical core infrastructures and services, cybersecurity incidents compromising such a core function could, by contagion across sectors and jurisdictions, even develop a capacity to undermine global financial stability. The SARB joined the Alliance for Financial Inclusion (AFI) during 2016. Representatives from the SARB have attended AFI Global Policy Forums in the past two years.