ECB Urges Banks to Enhance Cybersecurity Defenses Post Stress Test
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.
The press radar on this topic:
Banks in Stress Test ECB Calls for Better Preparation for Cyber Attacks
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