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ECB to ask banks to report all major cyber incidents

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - The European Central will require it supervises to report all major cyber incidents starting this summer as it increases its focus on IT security, board member Sabine Lautenschlaeger said on Monday.

"We conducted a successful pilot phase in 2016. And now we will implement a long-term solution for all those that we directly supervise," Lautenschlaeger said.

"As from this summer, they will be required to report all significant cyber incidents," she said. "This will help us to assess more objectively how many incidents there are and how cyber threats evolve."

(Reporting by Balazs Koranyi; Editing by Gareth Jones)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)