Kristalina Georgieva says online fraud could lead people to opt out of system and turn to ‘shoeboxes under their bed'<ul><li><a href=”https://www.theguardian.com/business/live/2026/oct/14/imf-rising-government-borrowing-costs-inflation-oil-stock-markets-latest-news-updates”>Business live latest updates</li></ul>The heads of the Bank of England and the International Monetary Fund have issued a stark warning that rising cyber-attacks risk undermining trust in the financial system.Speaking on a panel about online fraud at the IMF and World Bank meetings in Bangkok, the governor of the Bank of England, Andrew Bailey, pointed to alarming headlines about self-replicating AI agents <a href=”https://www.theguardian.com/technology/2026/oct/13/anthropic-ai-replicators-warning”>hijacking personal devices, and the French supermarket hack that <a href=”https://www.theguardian.com/world/2026/oct/12/cyber-attack-defrosts-refrigerators-france-supermarket-chains-intermarche-cooperative-u”>heated fridges up to 50C. <a href=”https://www.theguardian.com/business/2026/oct/14/bank-of-england-imf-bosses-warning-cyber-threat-to-trust”>Continue reading…
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