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European banks brace for Russian-backed cyber retaliations

European banks brace for Russian-backed cyber-retaliation –

Tougher Sanctions on Russia’s Biggest Banks Trigger Computer Security Alert; Hundreds of computers downed in Ukraine

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European banks are bracing for an escalation in state-sponsored cyberattacks as Russia’s invasion of Ukraine sparked a barrage of sanctions against the country’s biggest financial firms.

Senior operational risk sources at a UK bank and a European Union bank tell they expect Russian-backed hacking groups to carry out retaliatory cyberattacks on Western financial infrastructure as world leaders enforce asset freezes on local banking giants including Sberbank and VTB.

“I think

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