The European Banking Authority recovers from cyberattack

The European Banking Authority (EBA) has revealed it was subjected to a cyberattack against its Microsoft Exchange Servers.

It has managed to establish the scope of the attack, stating it was limited and the confidentiality of the EBA systems and its data was not compromised.

Due to precautionary measures, the regulator managed to remove the threat and its email communication services have now been re-established.

Since it became aware of the vulnerabilities, the EBA has taken a proactive approach and carried out a thorough assessment to detect any network intrusion that could compromise the confidentiality, integrity and availability of its systems and data, it said.

Cybersecurity threats have increased during the pandemic. Interest in the sector has been growing steadily over the years and a recent study from Market Research Future estimates the global cybersecurity market value will reach $199.98bn by 2025.

It also states the sector will grow at a compound average growth rate of 10.5% between 2019 and 2015.

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