When Victor Dodig checks his phone in the morning, the chief executive of CIBC dreads reading that any government or corporation, anywhere in the world, has been hacked, he told an Ontario Securities Commission panel last month. “Obviously, it would be more of a concern if our institution was, but we’re so interconnected that one weak link creates an issue for all of us.”
Of all the nightmare scenarios that run through Bank of Canada governor Stephen Poloz’s head, the threat of a cyberattack is “more worrisome than all the other stuff,” he told The Canadian Press in an October interview.
Source: CBC News
Date: November 16th, 2017
1) What are some steps the Bank of Canada could take to protect itself?
2) Does it make sense to “disconnect” to avoid the issue of being “so interconnected”?