Roux: Cyber attack may only be a matter of time

It may only be a matter of time before a cyber attack creates a systemic problem that cascades across the broader financial industry, the Central Bank’s deputy governor has warned.

Cyril Roux issued the warning in an address to the Society of Actuaries in Ireland where he said a cyber security risk essentially creates a risk across the entire financial system.

Echoing concerns from financial expert Greg Medcraft, Mr Roux said it was positive that such issues were being openly discussed ahead of any such potential attack.