Emerging technologies are perceived as the biggest emerging risk for financial institutions, followed by climate risk
and geopolitical tension in second and third place, according to a study by ORX.
Cybercrime is expected to evolve in a similar way to digital transformation. As technologies emerge and transform the industry, they bring with them novel and unexplored potential for cyber criminals to exploit a wider surface area of vulnerabilities.
Dr Luke Carrivick, director of Research & Information at ORX said: “The speed of digital transformation, whilst already evolving at a rapid rate, has been accelerated by the Covid-19 pandemic, with major disruption to industries and how businesses operate.