Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

ECB Conducts Cyber Stress Tests on Banks

January 3, 2024
Reading Time: 3 mins read
in News

The European Central Bank (ECB) is set to conduct cyber stress tests on 109 banks across Europe starting this month. The tests are designed to assess the banks’ resilience against cyberattacks and will include simulations of disruptive cyber incidents affecting business operations. The ECB will closely monitor how each financial institution responds, recovers, and resumes normal business activities following the simulated attacks. The initiative aims to identify vulnerabilities and provide feedback to banks, emphasizing the importance of implementing industry standards for cybersecurity across their organizations.

The decision to conduct cyber stress tests was announced by the ECB in March 2023, reflecting concerns about new cyber threats emerging in the wake of Russia’s invasion of Ukraine. In response to the invasion, there has been a notable increase in denial-of-service attacks and ransomware hacks targeting third-party service providers in both government and private-sector organizations throughout Europe. Of the 109 banks participating, 28 will undergo enhanced testing, including vulnerability detection exercises and evaluations of information-sharing practices.

The ECB’s cyber stress tests extend beyond banks to include an assessment of the cybersecurity practices of third-party service providers working with financial organizations. The testing process involves questionnaires, documentary evidence production, and exercises to evaluate the effectiveness of vulnerability detection and information-sharing practices. While European financial institutions have not been severely impacted by the increased cyber threats linked to the Russia-Ukraine conflict, the ECB’s recent assessment highlights weaknesses in areas such as asset management, cyber incident reporting, identity and access management, data management, and software management.

Anneli Tuominen, a member of the ECB’s supervisory board, stated that the cyber stress tests aim to help banks identify potential vulnerabilities and enhance their preparedness for successful cyberattacks that could occur at any time. The tests will play a crucial role in improving the overall cybersecurity posture of European banks and addressing weaknesses identified by the ECB’s assessment.

Reference:
  • Interview with Börsen-Zeitung
Tags: BanksCyber NewsCyber News 2024CybercrimeCybersecurityECBEuropean Central BankEuropean UnionFinancialJanuary 2024
ADVERTISEMENT

Related Posts

Interlock Ransomware Threat Alert

Altman Flags Looming AI Fraud Crisis

July 24, 2025
Interlock Ransomware Threat Alert

XSS Forum Admin Arrested in Kyiv

July 24, 2025
Interlock Ransomware Threat Alert

Google OSS Rebuild Exposes Malicious Code

July 24, 2025
UK Advances Plan to Report Ransomware Attack

UK Advances Plan to Report Ransomware Attack

July 23, 2025
UK Advances Plan to Report Ransomware Attack

Global Ransomware Attacks Drop 43% in Q2

July 23, 2025
UK Advances Plan to Report Ransomware Attack

Clorox Sues Cognizant Over 2023 Cyberattack

July 23, 2025

Latest Alerts

Interlock Ransomware Threat Alert

GitLab Patches Key Vulnerabilities

Backdoor Found in WP Plugins

Lumma Stealer Returns with New Tactics

npm Phishing Emails Target Developer Logins

MuddyWater Emerges Amid Iran-Israel Clash

Subscribe to our newsletter

    Latest Incidents

    Data Breach Affects 340K Jobseekers

    Hackers Use Ransomware on SharePoint Servers

    Beluga Vodka Ransomware Attack Reported

    Weak Password Triggers Ransomware Old Firm

    US Nuclear Agency Breached in MS Hack

    European Healthcare Network Breached

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial