Attacks on data centres revealed shortcomings in banks’ continuity-testing protocols — the National Bank of Ukraine (NBU)

According to the National Bank of Ukraine (NBU), attacks on data centres revealed shortcomings in banks’ business-continuity testing protocols, although the system as a whole was largely unscathed.

staff inspect the server room and its equipment

NBU governor Andriy Pyshnyi said the banking system must prepare for such incidents and ideally should not feel their impact. He added that during wartime it is difficult to guarantee zero damage and that the regulator and banks work through various scenarios on a daily basis.

Pyshnyi called for regular testing of procedures: “My appeal to my fellow bankers has always been the same as to the staff of the National Bank: test, test, test,” said Andriy Pyshnyi. In his view, testing should be a focus for the head of an institution, and the protocol should be operational routine.

server racks in the data centre with lighting

The NBU chief added that the system must be able to absorb a potential shock from intensified attacks, although “some temporary inconveniences related to limitations in functionality of certain network elements are possible,” said Andriy Pyshnyi. He also emphasised the need to discuss strategic autonomy and mentioned a “sovereign cloud” as one of the first topics.

Government decisions to strengthen the protection of data centres and to allocate funds for backup information systems have already been made: the Cabinet of Ministers allocated 518,3 million UAH from the reserve fund of the state budget to strengthen the backup information systems of state bodies.

Anastasiia Pavlova

Anastasiia Pavlova

Journalist, currency market

Journalist at Concord Fintech. She covers the currency market, exchange rates, the interbank market, prices and tariffs, as well as investments and stock markets, explaining in plain words what is happening with the hryvnia and how it affects savings and spending.

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