The European Central Bank (ECB) publishes the European Framework for Threat Intelligence-based Ethical Red Teaming (TIBER-EU), which is the first Europe-wide framework for controlled and bespoke tests against cyber attacks in the financial market. The ECB promotes the safety and efficiency of payment, clearing and settlement systems in the euro area under its oversight mandate, guided by oversight regulations, standards, guidelines and expectations. At Eurosystem level, the ECB is the competent authority for the systemically important payment systems in the euro area: TARGET2, EURO1 and STEP2-T, and is the lead overseer for TARGET2-Securities; oversight of other payment systems lies with the national central banks.
Facilitate a harmonised European approach
The TIBER-EU framework facilitates a harmonised European approach towards intelligence-led tests which mimic the tactics, techniques and procedures of real hackers who can be a genuine threat. TIBER-EU based tests simulate a cyber attack on an entity’s critical functions and underlying systems, such as its people, processes and technologies. This helps the entity to assess its protection, detection and response capabilities against potential cyber attacks.
The TIBER-EU framework has been designed for national and European authorities and entities that form the core financial infrastructure, including entities with cross-border activities which fall within the regulatory remit of several authorities. The framework can be used for any type of financial sector entity, as well as entities in other sectors.
Tests will be tailor-made
It is up to the relevant authorities and the entities themselves to determine if and when TIBER-EU based tests are performed. Tests will be tailor-made and will not result in a pass or fail – rather they will provide the tested entity with insight into its strengths and weaknesses, and enable it to learn and evolve to a higher level of cyber maturity.
Source: https://www.ecb.europa.eu/
