The European Central Bank (ECB) fears a Russian-sponsored cyber attack on European banks amid ongoing concerns over the Ukraine issue. They are working to prepare the banks to deal with such cyber attacks. Two ECB officials confirmed the matter on condition of anonymity. News Reuters.
European political and business leaders are concerned about the ongoing stalemate between Russia and Ukraine. They fear that any conflict at this time would bring danger to the entire region.
The ECB is currently headed by former French Minister Christine Lagarde. The bank oversees Europe's largest lenders. Two ECB officials, speaking on condition of anonymity, told Reuters that the ECB was aware of possible Russian cyber attacks on banks.
One of the two men said that the regulatory bank was working on all the common scandals that had taken place during the epidemic for so long. However, due to the situation in Ukraine, their focus is now on possible Russian cyber attacks. Meanwhile, the European Central Bank (ECB) has asked for information on banks' countermeasures to prevent cyber attacks.
The ECB official further said that the banks are using cyber war games to test their ability to prevent cyber attacks.
The ECB has identified cyber security vulnerabilities as a priority sector. However, the bank declined to comment when asked by Reuters about possible Russian cyber-attacks.
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