European, U.S. regulators warn against potential Russian cyberattacks

The European Central Bank (ECB) sounded the alarm warning that the Kremlin could resort to cyberattacks against European banks should tensions between Russia and the West escalate further, sources told Reuters. 

The sources noted that the ECB is on high alert, noting that Russia is believed to be responsible for several cyberattacks in recent years. For this reason, the ECB has begun questioning banks across Europe about their defenses and initiating cyber war games in order to prepare for any possible attacks.

In January, Ukrainian networks were targeted by a group connected to Moscow and a message reading “be afraid and expect the worst” appeared on multiple websites, Ukraine’s state security service reported.

But Russia has denied any connection to the attacks and has even offered to coordinate with European authorities to prevent any future incidents.

American financial authorities are also on high alert and the New York Department of Financial Services warned U.S. financial institutions in late January of potential retaliatory cyberattacks should Russia invade Ukraine and trigger sanctions from Washington.