Greetings of the day !!!
I had enrolled for online pre recorded lectures of CA Finals (RM).
I have a doubt wrt to class 10 in which sir had mentioned the diff between cyber and technology risk ,
Technology risk is risk of downtime error, system failure, etc
Whereas Cyber risk is risk of attack on the system,
In PNB fraud the swift system was not Integrated with the system of the bank and hence the fraud was not detected,
Why is this not a technology risk and cyber risk ?
Please clarify.
Thanks and regards,
Krutika Nadar
It is a technology risk as Cyber Risk would happen, when there would be a Cyber attack.