02/05/2018 (Agence Europe) – On Wednesday 2 May, the European Central Bank (ECB) announced that it was to set in place a new European framework for Threat Intelligence-based Ethical Redteaming (or TIBER-EU) to test the resilience of the European financial sector as a whole against sophisticated cyber-attacks. TIBER-EU, which was adopted on a voluntary basis by the competent national European authorities, will serve as a central platform to carry out cyber-attack simulations, imitating the tactics and techniques of hackers, on the critical functions and underlying systems of a financial entity, such as its staff, processes and technologies. These tests will give the entity in question an overview of its strengths and weaknesses in terms of protection, detection and response to potential cyber-attacks, the monetary institute explains. The system is expected to be up and running in the second half of 2018. (MF)