Central bank cyber security: a weak link in the financial system?
Disgruntled hackers are targeting central banks, whose cyber defences may not be up to the test
The hacker group that targeted the Central Bank of the Bahamas last month chose its target because of vulnerabilities it claims were “easy to find and easy to exploit”.
“The big players, the prominent central banks, are very secure when it comes to cyber security. It is our philosophy, however, that everything has vulnerabilities, it just falls to us to find and exploit them,” a member of the hacking group, which calls itself ‘the Mafia Project’, tells Central Banking.
The hacker, who goes by
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Cyber
Police detain Polish central banker in Pegasus spyware investigation
Former spy chief said secret services should have access to cutting-edge surveillance
Bank of Uganda launches investigation into $17m ‘hack’
Central bank declines to comment on millions of dollars reportedly stolen via diverted payments
Dedollarisation pushing central banks to issue CBDC, official says
Panellists at Central Banking’s Autumn Meetings list AI “data poisoning” as new cyber security threat
Cipollone calls for team spirit to combat cyber attacks
ECB board member says supervisors and industry will need to collaborate more to tackle growing threat
Cyber security goes beyond preventing attacks – panel
Policy-makers should shift focus to damage mitigation, say officials at Central Banking Autumn Meetings
Financial sector facing increased cyber risks – DNB official
Deputy governor says institutions’ dependence on vital infrastructure makes them vulnerable to attack
BdF and MAS complete test on post-quantum cryptography
Technology used to secure emails can be adapted for payments, authorities say
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology