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According to the world’s largest sovereign wealth fund, cyber security is the number 1 topic

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News Tech: The world’s largest sovereign wealth fund now prioritises cyber security over volatile financial markets since it experiences an average of three “severe” cyberattacks every day.

The fund experiences roughly 100,000 cyberattacks a year, of which it categorises more than 1,000 as severe, according to its top executives. Last week, when fears of inflation and a recession rattled markets, it announced its largest half-year dollar loss.

According to its chief executive Nicolai Tangen, the number of critical hacking attempts against Norway’s $1.2 trillion oil fund, Norges Bank Investment Management, has risen over the past two to three years.

“I’m worried about cyber more than I am about markets,” Tangen advised the Financial Times. “We’re seeing many more attempts, more attacks [that are] increasingly sophisticated.”

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