EU Banks Concerned About Cyber-Risk, Watchdog Warns

By Najiyya Budaly (January 11, 2022, 3:45 PM GMT) -- More than half of European banks expect cyberattacks and weakness in data security to increase their operational risks, according to research published by the bloc's banking watchdog.

The European Banking Authority reported on Monday that 55% of the 59 lenders in the bloc that it surveyed — 33 banks — in the third quarter of 2021 said they expected operational risk to increase in the sector. Some 90% of these banks said that cyber-risks were the main reason that they expected the risks to their operations to increase.

"Cyber- and information and communication technology-related risks remain elevated, and operational risk losses...

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