On top of this, last month the CPMI issued a strategy for reducing the risk of wholesale payments fraud.16 The strategy aims to galvanise wholesale payment systems, network messaging providers, banks, overseers and supervisors to work together in strengthening the security of the financial ecosystem and its endpoints, all of which are being increasingly exploited by adversaries.
CPMI member central banks are committed to acting as a catalyst for effective and coherent operationalisation of the strategy within and across jurisdictions and systems. We will monitor progress throughout this year and next to determine the need for further action. At the ECB, we have recently accelerated our efforts to put these initiatives into practice and to strengthen our cyber resilience more broadly.