ECB orders for Cyber Attack Stress test on banks

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From 2024, the ECB will launch cyber attacks on major noted banks to check their IT infrastructure’s cyber resilience towards sophisticated attacks. Andrea Enria, the head of the ECB, announced the decision Supervisory, after banks operating in Europe observed a sharp rise in attacks on their infrastructure, after the start of the Russian war with Ukraine.

It is a known fact that all the top European nations are supporting Ukraine in its war with the Putin led nation by supplying essentials, funds and ammunition to the war-torn nation. This kind gesture seems to have not gone well with the Russian authorities, as they would have won the war with ease by May last year, if the support gets withdrawn.

In retaliation, they started a digital war and assigned the task to its GRU conducted cyber team, Killnet. According to the FBI, the team works on the likes of Russian intelligence and takes down its enemy through digital war by stealing classified documents or by disrupting the operations with malware such as ransomware or DDoS attacks.

As banks and other financial institutions are becoming primary targets of this illogical war, where both parties are not willing to meet for peace talks, the ECB has decided to launch thematic stress tests to check the cyber resilience preparedness of all noted banks.

However, the decision to launch simulated attacks will be finalized in September 2023 and will take place in mid next year, if all goes well as per the plan.

NOTE- Vladimir Putin, who is well prepared to lead his nation for the next term from the year 2024, has decided to intensify the war on Ukraine, but launching military attacks on civilian populace. It’s said that he followed the basic war rules till the date of attacking on a military bases. But now, he is in no mood to spare the Ukrainian populace and so might launch death attacks on innocent people. United States intelligence department Pentagon has discovered in its secret spying operation, that Russian President is also thinking to launch a kind of Bio war from mid-April and as he is against chemical weaponry, as it can cause trouble to his own country populace and might deeply impact the coming generations of both nations. However, he is not getting the much needed support from his aides, who have decided to dethrone him in the next term, due to his nasty intentions.

 

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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