"ECB to Conduct Mock Cyberattacks at 109 Banks"
"ECB to Conduct Mock Cyberattacks at 109 Banks"
Over the next 12 months, the European Central Bank (ECB) will stress test 109 banks to determine whether they are adequately prepared for cyberattacks. The tests will prioritize the banks' response and recovery capabilities, not the potential to prevent incidents. The ECB directly supervises the 109 banks in question. The stress test scenario aims to disrupt the banks' day-to-day operations, allowing existing contingency plans to be put to the test. Although the ECB performs stress tests regularly, the emphasis on cyber resilience is new.