The ECB is urging banks to boost cybersecurity defenses following a stress test. Prioritizing investment in cybersecurity is crucial to safeguard critical operations and maintain customer trust.
Results will factor into the annual SREP assessment without impacting capital requirements. Recent cyberattacks, like the one affecting customers of DG Immobilien Management, a DZ-Bank subsidiary, emphasize the need for ratcheting up defenses.
The ECB's stress test aims to assist banks in averting future data breaches and protect sensitive information from being compromised.
infobud.ai is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand