ECB To Test Banks for Cyber Resilience

The European Central Bank plans to test the cyber resilience of the euro zone's top banks after a sharp rise in cyberattacks, including after Russia's invasion of Ukraine, ECB supervisory chief Andrea Enria told a Lithuanian newspaper. From a report: "Next year we are launching a thematic stress test on cyber resilience, which will try to test how banks are able to respond to and recover from a successful cyberattack," Enria told Verslo zinios. The ECB has long been warning banks to be alert for cyberattacks from Russia after the European Union passed a long series of sanctions against Moscow over its invasion of Ukraine. "There has been a significant increase in cyberattacks," Enria said. "We cannot apportion this to any specific source, but it is a fact that the number of these attacks has increased since the war started." Enria said that part of the problem is that banks are outsourcing some of their critical IT infrastructure to outside providers or other entities in their group.

Let's hope the tester is certified

[Teun]

These types of tests are important but who tells me the ECB has the knowledge to do it right?

Re:

[luvirini]

They really do not be perfect on such, as in most cases national authorities already do such on some level.

Thus having several checks, if they do not use the same checklist, increases the probability of finding any problems.

Of course one would hope that they hire competent people for that..