Edward Evans, Columnist

Bankers vs. the Black Hats

UniCredit investors shouldn't be complacent about hacking; neither should the industry.

July 26, 2017 at 10:25 AM UTC

Edward Evans is a managing editor with Bloomberg Opinion. He is former managing editor for European finance at Bloomberg News.

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It's shaping up to be one of the biggest data breaches in European banking, but investors are strangely unmoved. They shouldn't be complacent.

Italy's UniCredit SpA said on Wednesday that the personal details of 400,000 borrowers had been compromised. The market kind of shrugged, pushing the shares down less than 1.5 percent by mid-morning.