Economic instability
Economic instability - Uncontrolled fluctuations impacting the financial system, or parts thereof, due to the use or misuse of a technology system, or set of systems.
ENTITY
1 - Human
INTENT
3 - Other
TIMING
2 - Post-deployment
Risk ID
mit979
Domain lineage
5. Human-Computer Interaction
5.1 > Overreliance and unsafe use
Mitigation strategy
1. Implement Human-Computer Interface (HCI) design standards for financial technology systems that actively mitigate automation bias, such as limiting on-screen data complexity and mandating required manual verification steps for high-impact decisions to counteract user overreliance. 2. Establish enhanced regulatory oversight and enforcement, requiring financial institutions to conduct rigorous, proactive risk assessments (e.g., FMEA) on all new technology deployments to identify and address design vulnerabilities that could lead to widespread system misuse or unexpected financial fluctuations. 3. Strengthen governance by mandating comprehensive business continuity and disaster recovery plans that specifically model and test responses to technology-induced systemic events, including simultaneous failures due to overreliance on shared third-party technology providers or cloud infrastructure.