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The European Central Bank (ECB) plans to stress test banks cybersecurity. Starting in 2024 the ECB will valuate how banks in the Eurozone respond to cyber attacks. Following similar regimes launched by the Bank of England and Federal reserves ‘Joint cybersecurity examinations’.
Such exercises serve to not only test the resilience of individual organizations in the event of cyber attack but the whole market. Alongside the recent release by the EU Commissions of DORA, that is being written into National Member State laws, the EU is pressing ahead with cybersecurity risk management oversight of its financial sector.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberregulation #ecb
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