The Dutch Authority for the Financial Markets (AFM) has published its 2027 risk outlook, identifying cybersecurity as an acute systemic risk as incidents increase. Interconnected technological and financial vulnerabilities are putting markets under pressure, while high public debt and rising interest rates constrain governments’ ability to absorb shocks. At the report’s presentation, AFM Chair Laura van Geest warned that financial institutions cannot prepare for cyberattacks alone. She called for coordinated prevention, preparedness and response involving authorities, businesses and consumers, both within and outside the financial sector and across borders.
The accompanying consumer analyses highlight risks from growing wealth transfers and crypto ownership. Increasing inheritances and gifts create opportunities to build wealth but can expose recipients to complex or unsuitable products and fraud. About one in eight Dutch residents now owns crypto. Although most invest limited amounts, volatility remains substantial, and many consumers struggle to understand staking, lending and decentralized finance. Crypto holders also report encountering fraud more often than traditional investors. The AFM calls for oversight of clear information and marketing, appropriate rules for risky developments, and stronger, more centralized European supervision. This reiterates its earlier position that European crypto regulation needs broader coverage and centralized oversight rather than fragmented national supervision.