Bank of England and IMF chiefs warn cyber threat is eroding trust in finance

Andrew Bailey and Kristalina Georgieva warned at an IMF and World Bank panel in Bangkok that rising cyber-attacks risk undermining trust in the financial system. Georgieva said people could opt out of formal finance entirely, while Bailey urged social media firms to take responsibility for fraud. The event launched the Bangkok blueprint, a set of international principles against cyber fraud.

• IMF raised global financial stability threat level to "elevated"
• Georgieva: people may return to "dollars in a shoebox under the bed"
• Bailey urged social media platforms to take responsibility for fraud
• Bangkok blueprint launched as international anti-fraud principles