cyber attack, cyber attacks, cyber crime, Cyber Security, Daily News, Fraud & Security, Identity, Issuing & Acquiring -

ECB steps up cyber attack offensive

The European Central Bank will set up a database to register incidents of cyber attack and cyber crime at commercial banks, aiming to create an early warning and analysis system for big lenders, it told German newspaper Handelsblatt last week.

The ECB has been running a pilot project since February with 18 larger euro zone banks and plans

88% of Britons believe cybercrime is now as big a threat as offline crime

             ECB steps up cyber attack offensive

to roll out the system after a year to all 130 ECB-supervised banks. The system will spot cyber attack patterns and warn other banks of emerging threats.

The plans come at a time of heightened alert for the banking sector.  In February earlier this year, cyber criminals stole $81 million from a Bangladesh Central Bank account held at the Federal Reserve in New York.  Hackers repeated the modus operandi — sending fake SWIFT messages — in an attempted cyber heist on Vietnam’s Tien Phong Bank, according to Reuters reports.

Global messaging service SWIFT confirmed in a notice to customers on Friday that “the SWIFT network, core messaging services and software” had not been comprised. It warned of newly identified malware, and reminded all customers to “urgently review controls in their payments environment, to all their messaging, payments and e-banking channels.”

The post ECB steps up cyber attack offensive appeared first on Payments Cards & Mobile.