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ARTICLE · 14 SEPTEMBER 2018

ECB Releases Procurement Guidelines For Selecting Service Providers In Cyber-Resilience Testing

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The European Central Bank (ECB)'s publication on May 2, 2018 of its framework for "Threat Intelligence-Based Ethical Red-Teaming" (TIBER-EU Framework)

European UnionFinance and Banking

The European Central Bank (ECB)'s publication on May 2, 2018 of its framework for "Threat Intelligence-Based Ethical Red-Teaming" (TIBER-EU Framework), which is discussed in further detail in the first1 of this series of Client Alerts, marked a definitive step by the ECB, in this instance acting in its central banking as opposed to its Banking Union supervisory capacity,2 to lead the way on setting cyber-resilience standards.  

At the heart of this new "voluntary" framework, which aims to apply to in-scope authorities as well as financial services firms, including financial market infrastructure providers, are that TIBER-EU tests are intelligence based ethical hacking. In-scope entities are expected to embed a "comply or explain" approach to the TIBER-EU Framework. 

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