DZ Bank is under attack around the clock, says security chief

by time news

2023-08-02 07:58:40

For DZ Bank, a cyber attack is currently the most realistic of all possible threats. Attacks on the leading cooperative institute are de facto constant, explained Jürgen Ugi, head of corporate security. “Basically, we are attacked around the clock, our IT systems largely intercept it. But sometimes something goes through,” said Ugi in an internal interview published on the DZ Bank website.

For all financial institutions, the question is not whether, but when they will be affected by a major cyber attack. The bank regularly trains such scenarios with colleagues from IT and other departments — including as part of an annual crisis management exercise.

Deutsche Leasing AG, a subsidiary of the German savings banks, was recently the victim of a hacker attack. Access to the systems was cut off and thousands of employees were sent home for days. Ugi said he sympathized with the incident.

In exchange with the police

DZ Bank is in constant contact with the companies concerned and the criminal police. Regulators have also made strengthening the cyber resilience of the European financial system one of their top priorities.

Sarah Huemer and Dennis Kremer Published/Updated: , Recommendations: 55 Archibald Preuschat Published/Updated: , Recommendations: 30 Stephan Finsterbusch and Ilka Kopplin Published/Updated: , Recommendations: 17

The European Central Bank is planning a cyber security stress test for next year. An attack on the systems of the banks should be simulated, Bloomberg had reported.

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