Banks that have been beefing up their cybersecurity measures for years remain on alert for potential attacks from Russia on the heels of fresh warnings from the Biden administration, security experts said.
Banks that have been beefing up their cybersecurity measures for years remain on alert for potential attacks from Russia on the heels of fresh warnings from the Biden administration, security experts told MarketWatch.
Don’t miss: ‘The Cold War was over, I think it’s restarted’: Putin’s cyberwar judo tactics, and how to cope with our fear of hacks In 2017, Ukraine sustained the “NotPetya” cyberattack that impacted banks, ministries, and newspapers, as well as radiation detection systems at Chernobyl.To counter such threats, NATO formed the Cooperative Cyber Defense Centre of Excellence in Estonia in 2008.
Bruce Van Saun, CEO of Citizens Financial Group CFG, -3.14%, said last week’s warning from the Biden administration about cybersecurity threats from Russia shows that the government remains focused on protecting vital companies such as utilities and banks. Among the industry groups involved in such efforts is the Financial Services Information Sharing and Analysis Center , which is chaired by Ann Barron-DiCamillo, head of cyber operations at Citigroup Inc. C, -2.86%.
“While this approach does not protect against all cyber-risks, it does provide a robust set of cybersecurity controls,” Zielenski said.
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