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Minerd Sounds Alarm on Risk of Russia Cyber Hack After SWIFT Ban

March 1, 2022, 8:20 PM

Scott Minerd, chief investment officer of Guggenheim Investments, cautioned about the risk of Russia retaliating against economic sanctions through cyber warfare on the financial system.

“The likelihood of a cyber attack on our payments system is high,” said Minerd, who last year warned about the sustainability of the global payment system and threats from hackers. “If they cripple the payments system it’s going to seize up markets,” he said.

Scott Minerd
Photographer: Chris Goodney/Bloomberg

Read more: Wall Street Titans Warn of the Next Big Risks for Investors

The European Union has agreed to cut off seven Russian banks from the SWIFT network ...