Cyber-criminals will trigger the next global financial crisis by making a major bank “disappear”, one of the UK’s leading finance chiefs has claimed. Mark Boleat, head of policy for the City of London, said cyber-criminals would go about “destroying bank records and changing the amounts people have in their accounts”, sending shockwaves through the financial system like a “neutron bomb”. People would find that their savings have been wiped out, their records deleted, and they would come up against “denials of service”, stopping them from accessing funds, Mr Boleat told The Sunday Telegraph.
Wall Street banks are getting hit by cyber attacks every single minute of every single day. It is a massive onslaught that is not highly publicized because the bankers do not want to alarm the public. But as you will see below, one big Wall Street bank is spending 250 million dollars a year just by themselves to combat this growing problem.