ECB sees ‘areas for improvement’ following cyber stress test
Experiment focuses on response and recovery from database losses on 109 banks
The European Central Bank (ECB) has said there is room for improvement in banks’ cyber defences after simulating an attack that would wipe out databases in their core systems.
The ECB’s Single Supervisory Mechanism (SSM) concluded its stress test on July 26. It found that although lenders “have response and recovery frameworks in place, areas for improvement remain”.
The test required banks to show they could activate their crisis response plans, including internal crisis management procedures and
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