Cyber security
AML supervision at central banks: 2022 survey
Kroll explores why many central banks are investing in skills and data to tackle money laundering, but resourcing constraints are preventing stronger action, as Central Banking’s survey data reveals.
Privacy and security are greatest cloud concerns
New computing options and work practice flexibility top benefits
Problem of recruiting and retaining fintech talent persists
Salaries a key issue alongside skill set attainment
Cyber security rises as fintech research priority
Suptech overtakes regtech
ESRB calls for European cyber incident framework
Regulators must have joint response to systemic cyber incidents
Two-thirds of central banks have a centralised risk unit
Central banks with a centralised risk unit tend to use KRIs
Financial risk most staffed function
Risk management team sizes vary considerably between central banks
ISO 31000, COSO-ERM are influential risk management approaches
IOWRG, Basel and NIST also used by central banks
Cyber security risks rose most in the past year
Operational and market risks also increased
Reputational risk tops central bank concerns
Cyber security and credit/counterparty risk followed
A future-proof RTGS blueprint
Operating hours, access and data standards should all be considered by central banks contemplating an RTGS overhaul
Podcast: Dominik Weh on why central banks need to embrace technology
Central banks need to keep abreast of the current technology or risk being left behind
RBNZ seeks greater collaboration on cyber incidents
New response team was established following September cyber attack
UAE central bank announces new cyber security centre
Gulf state saw huge increase in cyber attacks in 2020
Financial Stability Benchmarks 2021 report – keeping the sector secure
Benchmark exercise presents responses on AML/CFT, cyber, macro-prudential and other risks
Swedish central bank may join Eurosystem payments platforms
Sveriges Riksbank says Target2 and T2S could enhance policy but has security concerns
Cyber security exercises useful, say benchmark participants
Over half of participants simulate cyber attacks – a quarter do so more than once a year
Cyber attacks rising, most benchmark institutions say
Financial sector hacking attacks rose in past two years
RBNZ served ‘compliance notice’ after cyber attack
Privacy commissioner concerned by possible “systemic weakness” in central bank’s cyber defences
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
Colombian central bank joins DLT bond issuance pilot
Technology could cut costs and offer faster processing, traceability, security and risk management
Bundesbank warns about digital challenges for German banks
Report stresses the importance of reinforcing cyber security processes