Belgium’s National Bank Approves Cyber-Attack Testing Framework

Strengthening the Financial Sector against Growing Cyber Threats

In a bid to enhance the stability of Belgium’s financial system, the National Bank (NBB) has approved the TIBER-EU framework for controlled and tailor-made cyber-attack testing. This move aims to strengthen the country’s financial sector against growing cyber threats.

The TIBER-EU Framework: A European Initiative

The TIBER-EU framework is a pioneering initiative that seeks to create a standardized approach to cyber-attack testing across Europe. It enables financial institutions to better understand their defenses against cyber attacks and improve their response capabilities.

Key Objectives of the Framework

• Create a European-wide standard for controlled hacking
• Facilitate cross-border tests for entities subject to oversight from multiple authorities
• Enhance cybersecurity capabilities for financial institutions

NBB’s Decision: A Crucial Step towards Improving Financial Sector Resilience

The adoption of the TIBER-EU framework is seen as a crucial step towards improving Belgium’s financial sector resilience against growing cyber threats. The move enables financial institutions in Belgium to:

• Better prepare themselves for potential cyber attacks
• Respond more effectively if an incident were to occur

Conclusion

Belgium’s National Bank has taken a significant step towards strengthening the country’s financial sector against cyber threats. By adopting the TIBER-EU framework, financial institutions in Belgium can enhance their cybersecurity capabilities and improve their response to potential cyber attacks.