All measures taken to secure banking infrastructure — Bank of Russia's Chief

Business & Economy October 23, 17:24

Elvira Nabiullina noted that the regulator remains in constant contact with market participants

MOSCOW, October 23. /TASS/. The Bank of Russia enforces strict requirements for the security and resilience of the country's banking and payment infrastructure, and all necessary measures are being taken to protect it, Central Bank Governor Elvira Nabiullina told a press conference following the regulator's board meeting on monetary policy.

"Regarding the readiness and resilience of the banking and payment infrastructure as a whole amid attacks, we have quite strict security requirements, regulations for multiple infrastructure backups, and rules stating that data must be stored in different locations. Everyone must have a recovery plan designed to take hours. <…> All measures are being taken to protect the infrastructure and, if an incident occurs, to quickly restore all services," Nabiullina said.

The central bank chief noted that the regulator remains in constant contact with market participants and stands ready to adjust existing algorithms if necessary.

"Each bank has its own recovery plan, and we are in constant contact with them. If necessary, we are, of course, prepared to adjust these plans, but all measures are being taken to protect the infrastructure and, if anything happens, to quickly restore all services," Nabiullina emphasized.

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