Cyber
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
ECB unveils guidelines for hiring ‘ethical hackers’
“Tiber-EU” framework designed to help financial institutions toughen cyber defences
Central bank cyber security: a weak link in the financial system?
Disgruntled hackers are targeting central banks, whose cyber defences may not be up to the test
Bahamas central bank traces website breach to third party
Central bank says no personal data was taken but some administrator credentials were included in stolen data
FSB outlines ‘cyber lexicon’
Group hopes common language will aid cross-border efforts to tackle cyber threats
BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale, or face an intervention from supervisors
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
PRA official says financial system must become more cyber-resilient
Firms now view cyber as one of the biggest risks to their operations; regulators must outline what they expect from firms in terms of resilience
Bank of Mexico admits $15.2 million went missing in cyber heist
Central bank says customers’ accounts were not penetrated; new cyber unit will look to strengthen internal and external controls
Central banks should create national cyber defence – Canada’s Dinis
Not enough for institutions to maintain their own “alarm systems”, Bank of Canada COO says, highlighting the usefulness of cyber stress tests
ECB presents ‘red team’ guidelines for simulated cyber attacks
Test will mimic the techniques of real hackers to better understand banks’ cyber defences
Bahamas central bank upgrades IT to defend against cyber risk
Central bank updates security and threat management systems and introduces a new “bring your own device programme”
No funds taken in cyber breach, Bank of Mexico says
Central bank reveals three participants of interbank payment network experienced “incidents” within internal systems; banks asked to implement “additional controls”
FCA’s McTeague examines cyber risks in open banking
Regulator expects firms to maintain high standards of security despite “potentially uncomfortable” transition period
Bank Negara Malaysia ‘foils’ cyber heist
Central bank assures public no funds were lost during incident involving falsified Swift messages
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies
Co-operation key to cyber defence success, says Sarb deputy
Groepe says institutions need to ensure fintech interconnectivity does not cause system failure; new players should be held to the same security standards
Swift warns of greater cyber threats as security control deadline nears
Customers have until December 31 to implement 16 mandatory controls
DNB publishes hacking guide for cyber security exercises
“Red teams” must simulate attacks on critical functions, guide says
Philippine banks face tougher cyber rules
The Central Bank of the Philippines wants more complex banks to implement a round-the-clock “security operations centre”
G7 governors and ministers set out principles for assessing cyber security
The guidelines build on ‘Fundamental principles of cybersecurity’, published in October
FSB members press ahead with new cyber-risk rules
Over 70% of FSB members say they plan to launch new measures in the next year; private sector emphasises need for better training
‘We still don’t do the basics well’ – Chris Gale on cyber security
Central banks are doing “aggressive” and “pretty cool” things to shore up cyber defences, says former Boston Fed VP; notes more could be done in the realm of information sharing
‘Red teams’ will test cyber-security of European financial infrastructure
Bundesbank official praises “bug bounty” programmes that pay hackers to uncover vulnerabilities