ECB’s Cyber Stress Test Reveals Material Deficits at Some Banks

Several European banks displayed material weaknesses in their ability to respond to a simulated hacker attack in a landmark test by their top regulator.

The European Central Bank is expected to publish findings of its first such exam later this week. Preliminary reports from the supervisor indicate lenders mostly experienced less severe issues, according to KPMG Germany, which advised more than a dozen banks on the probe.

Some, however, faced more significant problems such as taking too long to get systems running again or communicating with regard to the attack, said Peter Hertlein, director of cybersecurity & IT compliance in ...