KPMG: Banking sector's biggest threat is cyberattacks

08/20/2013 | ZDNet

The U.K. banking sector, in which lending and deposits increased in the first part of this year, may find that cybercrime, and not an economic downturn, poses a chief threat in future years, according to KPMG's Bank Performance Benchmarking Report. Banks saw a 12% increase in fraudulent activity in 2012, and U.S. and U.K. institutions experienced a rise in organized online attacks. Four of five major British banks say cyberattacks are their greatest concern, said banking official Andrew Haldane.

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