ECB To Demand More From Euro Banks On Cyber Defense

Law360, London (June 19, 2017, 1:50 PM BST) -- Eurozone lenders will be required to report major cyberattacks to the European Central Bank as it prepares to roll out a centralized database of cyber incidents across the bloc that will underpin how it expects firms to handle information technology risks.

Sabine Lautenschlager, the ECB’s vice-chairwoman for supervision, said in a speech on Monday that the central bank would issue supervisory expectations that go beyond lenders’ basic practices as it attempts to toughen the banking system’s resilience against new cyberthreats.

“We plan to issue our supervisory expectations...
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