Europe's banks steel themselves for a tough ECB cyber resilence test after blistering criticism

"Institutions continue to report gaps in risk control areas considered fundamental to cyber hygiene, such as proper identity and access management, timely vulnerability patching or network security"

Edward Targett

Dec 15, 2023 - 2 min read

Europe’s banks have ~400 questions they need to answer ahead of a keenly awaited test on cyber-resilience by the European Central Bank that will assess their ability to respond to a potentially crippling cyber-attack.

The test comes after blistering criticism of European banks' cyber resilience after a series of on-site checks between 2020 and 2023.

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