EU, US Regulators Warn Banks of Possible Russian Cyberattack

The European Central Bank has prepared banks for a possible Russian-sponsored cyber attack as tensions with Ukraine continue to rise.

According to reports, the European Central Bank, led by former French minister Christine Lagarde and has oversight of Europe’s biggest lenders, has been on high alert for the threat of cyber attacks on banks launched from Russia.

Earlier, the New York Department of Financial Services issued an alert to financial institutions warning of retaliatory cyberattacks should Russia invade Ukraine and trigger U.S. sanctions.

Multiple Ukrainian websites were also hit by a cyber strike that left a warning as Russia massed troops near Ukraine’s borders.

Ukraine’s state security service SBU said it saw signs the attack was linked to hacker groups associated with Russian intelligence services.

However, the Kremlin has repeatedly denied the Russian state has anything to do with hacking worldwide and said it was ready to cooperate with the United States and others to crack down on cybercrime.

Meanwhile, Britain’s National Cyber Security Centre warned large organizations to bolster their cyber security resilience amid the deepening tensions over Ukraine.

On Tuesday, Mark Branson, the head of German supervisor BaFin, told an online conference that cyberwarfare was interconnected with geopolitics and security.

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