European Central Bank set to Stress Test 109 Banks to Assess Cyberattack Response and Recovery
The Fintech Times
JANUARY 6, 2024
The European Central Bank (ECB) has revealed plans to carry out cyber resilience stress tests on 109 of the banks it directly supervises in 2024, to assess how they both respond to and recover from a cyberattack. Stress testing the banks will not analyse their ability to prevent it in the first place, the European Central Bank explained. Instead, in the stress test scenario, a cyberattack succeeds in disrupting a bank’s daily business operations.
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