ECB wants to test European banks for resilience to cyber attack | Abroad

After the European Union took a long series of sanctions against Moscow because of the invasion of Ukraine, the ECB has been warning for a long time to be alert for cyber attacks from Russia.

“The number of cyber-attacks has increased significantly,” said Andrea Enria, Chair of the Supervisory Board of the European Central Bank. “We cannot link this to a specific cause, but the fact is that the number of these attacks has increased since the beginning of the war.”

With this test, the ECB wants to find out how banks deal with a successful cyber attack on their IT systems. According to Enria, part of the problem is that banks outsource important parts of the IT infrastructure to third parties and that, he says, “creates a risk”.

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