Enhancing cyber resilience (Operational Risk)
Over recent times, the financial industry has woken up to the evolving risks posed by cyber threats, which have demonstrated increased levels of complexity, sophistication and propensity to target the sector.
Security - including effective controls to counter cyber-crime - is an area that Euroclear has always taken very seriously, and we have continuously invested in controls that maintain the resilience of our systems and engaged in collaborative efforts to increase cyber resilience in the industry.
In addition, we have taken steps to strengthen our own cyber security capability by investing in a multi-year cyber resilience programme. During 2017, the second year of the programme, we reinforced the group’s control environment and procedures, as well as continued developments to our system and IT architecture.