Eiopa issues cyber warning

Posted by Theodore on Τετάρτη, Σεπτεμβρίου 24, 2014 with No comments
The European Insurance and Occupational Pensions Authority (Eiopa), one of EU financial regulator has called state regulators to check that insurance companies and other financial institutions devote sufficient resources to protect against growing IT risks. 

The risks facing the EU financial system have not changed substantially since the previous Joint Committee Report on Risk and Vulnerabilities, but recent developments illustrate that a number of key risks continue to challenge the stability of the European financial system:
  • prolonged period of low growth combined with high indebtedness  in private and public sectors; 
  • search-for-yield behavior risks that could be exacerbated by potential snapbacks; 
  • risks stemming from emerging market economies; 
  • risks from the deteriorating conduct of business by financial institutions; 
  • Increased concern about IT risks and cyber-attacks.
For more details you can read the full report

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