European regulator warns banks of possible Russian cyberattack

The European Central Bank (ECB) is warning banks across Europe of a possible Russian cyberattack amid the Russia-Ukraine standoff, two people familiar with the situation told Reuters. 

The sources said the ECB is on alert for the cyberattacks since Russia is believed to be behind a number of incursions worldwide in the past couple of years.

The ECB has begun questioning banks about their defenses and playing cyber war games to prepare for an attack, the sources told Reuters.

The concern comes after a cyberattack hit Ukraine in January, with a message that said “be afraid and expect the worst” popping up on multiple websites.

The attack was found to be conducted by a group that had connections with Russian authorities, Ukraine’s state security service found.

Russia has denied they are behind any cyberattacks and has offered to coordinate with others to stop the incidents, according to Reuters.

The high alert in Europe against Russian cyberattacks comes as Russia has sent tens of thousands of troops to its border with Ukraine.

The international community continues to negotiate with Russia to deescalate, but fears have risen that an invasion of Ukraine could be imminent.