Cyber risks are rising for governments as digitization increases
November 25, 2019 (6.55mins)
David Rogovic, William Foster
David Rogovic and William Foster of the Sovereign team discuss the credit implications of rising cyber risks on governments’ credit profiles. Governments are vulnerable to attack from multiple types of cybercriminals, while increased use of technology in providing government services has created more potential entry points for an attack.
Cyberattacks on governments are rising but pose limited risks to credit quality
The growing trend toward digitization has increased governments' exposure to cyberattacks. But governments typically oversee large, diversified economies and have fiscal resources that help insulate them from negative effects of an attack, highlighting the generally lower impact of cybercrime against governments than against private companies.