2023 Cyber Outlook

Governments and industries toughen cyber stance; credit effects mixed

Cyber risk continues to rise as geopolitical tensions mount, and governments and industries are taking action to reduce cyber exposure.

How will these efforts affect credit in 2023?

  • Ransomware attacks will shift from the US, raising risks for issuers in other regions.
  • Scrutiny from governments and regulators will increase.
  • Demand for cyber insurance will outweigh supply.
  • Quantifying an expected financial loss from a cyberattack will play a growing part in risk mitigation.

Related reading:

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    Jim Hempstead Managing Director, Global Project & Infrastructure Finance Moody's Investors Service Bio
    Luigi Bucci AVP-Analyst, Corporate Finance Group Moody's Investors Service Bio
    Irina Dimitrova Analyst Moody’s Investors Service Bio
    Leroy Terrelonge III Vice President - Senior Analyst, Cyber Risk Group Moody's Investors Service Bio
    Derek Vadala SVP, Head of Risk BitSight Bio
    Srikanth Vadlamani Vice President – Senior Credit Officer, Financial Institutions Group Moody's Investors Service Bio