IMF advocates national strategy as banks lose $2.5bn to cyberattacks

The International Monetary Fund has called for immediate action on national cybersecurity strategies as global banks suffer $2.5bn loss to cyberattacks in four years. The IMF said in its April 2024 Global Financial Stability Report, released recently, that $12bn has been lost in the last 20 years to cyberattacks. “Financial firms have reported significant direct