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Could a Cyberattack Bring Down the Banking System?
We’ve already mentioned how small businesses often fail after falling victim to cyberattacks, but what about banks? There’s not guarantee that the government will prop up a large bank if it gets hit by a cyberattack, but at least these companies can afford top-tier security. Smaller regional institutions remain vulnerable—and an attack on any six small banks worth less than $10 billion could threaten the solvency of the larger banks that they support.