They are also vital for the functioning of the financial system and the financing of the real economy, as they settle market transactions through a web of settlement banks, clearing houses, settlement systems and custodians. Cyberattacks are already used to harm companies and to interfere with national and international politics.
Cyberattacks against financial market infrastructures would undermine confidence in the financial system, with repercussions on the economy as a whole. Fending off these attacks is therefore a matter of European security. The range of motivations for compromising the financial sector includes financial gain, a desire to create havoc and disruption, and meticulously planned espionage.