The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Investors grapple with cyber risk

Fund managers understand that cybersecurity is one of the biggest threats to banks. They don’t yet have the tools to properly assess it. But if the data drought were to end, cyber-strategies could become an integral part of their investment decisions

The chief executive of one of Europe’s biggest retail banks, one that has invested heavily in its digital platforms, is outlining what he perceives as the biggest risks to his business. He’s mentioned political risk and conduct risk. Then he pauses, takes a deep breath and tells Euromoney: “But the biggest risk of all is probably a cyberattack.”

So, we suggest, this must now be a regular source of discussion in your regular meetings with investors. “No,” he fires back immediately. “I can’t recall a single institution who has ever asked me about our cybersecurity policies.”

There is a clear disconnect here. The 1,200 risk experts in more than 50 countries that contribute to Allianz’s annual Risk Barometer rank cybersecurity as the third greatest threat facing companies, ahead of natural disasters. It is also ranked as the top future peril. In a report sponsored by Herjavec Group, the global annual cost of cybercrime was predicted to rise from $400 billion in 2015 to $6 trillion by 2021. That is equivalent to the combined GDP of France and Germany. 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree