This week I learnt that the first computer virus dates back to 1971.
It spread via the ARPANET, which was a precursor of today’s internet.
The ARPANET connected about two dozen universities and government hosts
in the United States. The virus had been written for experimental
purposes and was not malicious. It just displayed a simple message on
infected computers: “I’m the creeper: catch me if you can”.
Things
are a bit more complex today, and the outcome of cyber incidents much
worse: they can disrupt business, cost a lot of money and destroy
reputations. And indeed, the potential for damage is great, as so much
relies on IT and so much happens online – the financial sector is a case
in point. As you all know, banks have always been attractive targets
for criminals.
Although the damage has been limited so far, we
banking supervisors take cyber risk very seriously. And we insist on
banks doing the same. (...)
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