By Luminari
BizBites

Cyber risks to your finances are rising as big banks rely on the oligopoly of big tech (Financial Post)

[Financial Post] It is often said that practice makes perfect. Maybe that’s why a few of Canada’s larger financial institutions were recently asked to participate in what one regulator called a “severe but plausible cyber scenario.”

That scenario, as it was explained to the Senate of Canada’s banking committee on Feb. 28, “involved a data breach of customer information at a third party that led to a spike in bank accounts being hacked and drained of funds…”

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