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 Risk.net 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.
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