ECB fines Spain's Abanca for delay in reporting cyber hack

FRANKFURT (Reuters) - The European Central Bank said on Friday it had fined Spanish bank Abanca for its delay in reporting a cyber attack that forced it to suspend its main means of payment in 2019.

"The bank’s omission hindered the ECB’s ability to properly assess Abanca’s prudential situation and to react in a timely manner to potential threats to other banks," the ECB said as it announced the 3.1 million euro ($3.29 million) fine.

($1 = 0.9428 euros)

(Reporting By Francesco Canepa, Editing by Louise Heavens)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• World Bank to phase out China lending by 2031, source says
• Bloom Energy, Brookfield expand AI infrastructure power partnership to $25 billion
• Russia urges Pakistan, Afghanistan to use diplomacy to solve disputes