EU Considering Adding ‘Cyber’ Stress Testing for Banks

The European Union may soon require banks to undergo cyber security stress testing given the increase in recent attacks, Reuters reported. “EBA, which is in charge of stress-testing the bloc’s banks, is expected to detail in summer the checks it intends to conduct in the next exercise planned in mid 2018. An EBA official said cyber security was on the agency’s radar but no decision had been made on a possible stress test. The body’s chairman, Andrea Enria, has urged EU states to stress-test their financial institutions for cyber risks.”

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