Cyber
ECB prioritises IT outsourcing and cyber resilience supervision
Institutions lost $161 million due to poor-quality outsourced services in 2022
Central Bank of Ireland suffers credit data breach
Over 20,000 borrowers’ credit scores impacted by “archiving error”
Combatting the ever-changing cyber threats in banking
Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.
Hackers seize South Sudan central bank website
Group demands central bank act to make currency stronger against the dollar
Ransomware threat on the rise, says Boston Fed IT chief
Automation and AI could boost response times and ease staffing pressures
Central Bank of Azerbaijan ramps up cyber security
Division head points to AI’s potential as additional safeguard
Hackers target Iran’s central bank website amid protests
Internet blackout reported on September 21
CBDCs require increase in cyber security budget – BIS survey
Central bankers deem financial sector underprepared for cyber attacks
Privacy commissioner closes probe into RBNZ cyber defences
Central bank has “made every change recommended and more” in wake of hacker breach
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
Bangladesh Bank heist casino boss faces lawsuit in New York
Bank asserts Kim Wong was involved in money laundering for North Korean regime
Every CBDC decision is a tradeoff, says Bank of Canada’s Shah
Privacy, security, and offline access present difficult problems
ESRB calls for European cyber incident framework
Regulators must have joint response to systemic cyber incidents
UAE central bank announces new cyber security centre
Gulf state saw huge increase in cyber attacks in 2020
RBNZ served ‘compliance notice’ after cyber attack
Privacy commissioner concerned by possible “systemic weakness” in central bank’s cyber defences
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
Bundesbank warns about digital challenges for German banks
Report stresses the importance of reinforcing cyber security processes
Swiss central bank and stock exchange to launch new network
Communications system based on Scion technology aims to increase cyber security
Danish central bank denies suffering breach in SolarWinds hack
Media reports claimed central bank had been exposed for seven months
RBA cancels market operations due to outage
Issue at third-party provider impacted central bank and several commercial banks
RBNZ’s Orr admits ‘shortfalls’ on cyber security
But KPMG report also lays blame on vendor for delays in pushing out critical software update
Swedish and Norwegian central banks warn of cyber threats
Even small attacks can have major effects on stability, Norges Bank and Sveriges Riksbank say
Over 4,000 FCA staff complete mandatory cyber training
FCA spends $26,990 on cyber security course
Most central banks spend less than 20% of their IT budget on security
Average spend was 16% of IT budget