Cyber security
Kenyan central bank toughens cyber security standards
Regulator issues minimum standards for cyber security for payment system providers
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
Bank of Israel begins push for open banking
Regulation of APIs designed as part of several measures to promote banking sector competition
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
UK regulators review financial firms’ operational resilience
Firms must ensure processes can be maintained after disruption - regulators
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
BoE to defend post-crisis regime through ‘running repairs’
Capital regime will need to evolve to stay on top of risks, says Victoria Saporta; BoE set to unveil details of operational resilience requirements
Russia changes security operation, makes senior appointments
Bank of Russia deputy governor appointed and monetary policy head retires
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
Central bankers share vision for ‘business as usual’ big data
Panellists offer advice on how to build the infrastructure for good data governance
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 Finland working on payments backup system
Board member says Finland must be able to maintain control of “critical infrastructure” should disruptions occur
Blockchain-based payment systems lack ‘capacity and efficiency’ – DNB
DNB tests show blockchain improving security but increasing costs and slowing speed
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
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
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
Danish central bank recommends security upgrade for payment systems
New cyber security measures, risk management rules and stress tests should be implemented
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
CPMI puts forward strategy to tackle wholesale payments fraud
The Federal Reserve and the ECB welcome the proposal
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”