Stress Tests from ECB

A lot of things changed also in cyber security side with the war between Russia and Ukraine. With the beginning of the war, banks operating in Europe observed a sharp rise in attacks on their infrastructure. Andrea Enria, the head of the ECB, announced that the ECB will launch cyber attacks on major noted banks to check their IT infrastructure’s cyber resilience towards sophisticated attacks with the beginning of 2024.

With the starting of the war, European states openly support Ukraine. This support has a wide range from directly providing money to ammunition. In retaliation, Rusian side started a digital war against European organizations including DDOS, ransomware and stealing critical data. Financial organizations including banks became the first and the biggest victim of this digital war in this situation. The ECB then has decided to launch thematic stress tests to check the cyber resilience preparedness of all noted banks. It looks like the decision period will continue ntil September 2023 and the tests will be done in 2024.

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