Reuters learned about the cyber exercises of European banks in case of attacks from Russia

The European Central Bank (ECB) has warned financial institutions about the risk of possible cyber attacks from Russia amid rising tensions between Moscow and Kyiv, Reuters reported, citing two sources. This is also reported by Bloomberg.

Until recently, the regulator has been focused on combating common fraud, the cases of which have intensified during the coronavirus pandemic, according to Reuters interlocutors. However, the crisis in Ukraine turned his attention to cyber attacks, which, according to the ECB, can be organized by the Russian side.

According to the agency's source, the ECB has interviewed banks about their readiness for hacker attacks. Another interlocutor said that banks had conducted cyber exercises to see if they were capable of repelling attacks.

The ECB did not respond to the agency's request.

At the end of January, a similar warning about the possibility of cyberattacks was sent to American banks by the New York Department of Financial Services, Reuters writes. The regulator believes that Russia may retaliate against possible US sanctions that Washington threatens to impose in the event of a Russian invasion of Ukraine.