Central Bank warns companies to step up cyber security
The Central Bank is warning companies here to make more of an effort in assessing cyber security risks.
The institution has recently published guidelines on the issue which it says is a clear statement of the standards and quality it expects.
The banks Director of Policy says supervisors will expect to see firms meeting these guidelines when companies are being reviewed.
Director of Policy & Risk, Gerry Cross said: “The guidelines are designed with proportionality in mind; they will have different implications for large complex firms than smaller and simpler ones.
“They are a clear statement of the standards and quality in this area that Central Bank supervisors will expect to see firms meeting.
He added: “The Central Bank encourages firms to participate in cybersecurity information sharing networks.
“These can provide valuable intelligence on current threats, attacks and vulnerabilities which will support effective security risk identification and mitigation.
“The Central Bank will continue to drive firms to take actions to better address IT related risks.”
