Cyber hacking has become the most impending and most serious threat against business and financial markets, according to data collected by our team over the last nine months, well ahead of China’s slowing economic growth and the effects of the unavoidable future rate hike by the Fed.
A number of cyber incidents – some have not been labelled as cyber incident though there is indication it’s still the likeliest hypothesis – have provided evidence the US intelligence community was right months ago when it warned about the growing number and sophistication of cyber attacks. “Cyber threats to US national and economic security are increasing in frequency, scale, sophistication and severity of impact,” reiterated James Clapper, Director of National Intelligence (DNI), in his Worldwide Cyber Threats statement on September 10, 2015.
“Rather than a ‘Cyber Armageddon’ scenario, (…) We foresee an ongoing series of low-to-moderate level cyber attacks from a variety of sources over time,” explained Clapper. Analysts also noted that though there have been apparently more state-sponsored attacks lately, cyber crime has been growing in greater proportions in the meantime. “Smaller teams with smaller means can sometimes cause as much harm as larger groups in the past, it means doing more with less, hence more potential for cyber attacks,” explained analysts.