For subscribers
Finance should pay much more attention to undersea cables risk
The threats to this crucial infrastructure are growing but there are possible solutions.
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These cables can be damaged by natural disasters (like tsunamis), accidents (a ship’s anchor) or deliberate attack.
PHOTO ILLUSTRATION: UNSPLASH
Gillian Tett
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What is the greatest tail risk stalking global finance today? There is a depressingly long list of options: surging debt, volatile rates, geopolitical conflict and/or cyber failures like the one accidentally unleashed by CrowdStrike and Microsoft.
But there is another deserving far more debate: underwater sea cables.
