The European Union is considering testing banks' defenses against cyber attacks, EU officials and sources said, as concerns grow about the industry's vulnerability to hacking.
Cyber attacks against banks have increased in numbers and sophistication in recent years, with criminals finding new ways to target banks beyond trying to illicitly obtain details of their customers' online accounts. Last February $81 million was taken from the Bangladesh central bank when hackers broke into its system and gained access to the SWIFT international transactions network.
Global regulators have tightened security requirements for banks after that giant cyber fraud, one of the biggest in history, and in some countries have carried out checks on lenders' security systems.
But complex cyber attacks have kept rising, as revealed in November by SWIFT in a letter to client banks and by the theft of 2.5 million pounds ($3 million) from Tesco Plc's banking arm in the first mass hacking of accounts at a Western lender.
More at Reuters.