Major Cyberattack Targets European Banking Systems

Source:Reuters
July 1, 2025
Europe
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A sophisticated cyberattack disrupted banking systems across Europe on June 30, 2025, affecting millions of transactions and exposing vulnerabilities in digital infrastructure. Cybersecurity experts traced the attack to a state-sponsored group, though no country has been officially named. The European Central Bank reported temporary outages in online banking services in Germany, France, and Italy. 'This is a wake-up call for global cybersecurity,' said an ECB spokesperson. Losses are estimated in the billions, with recovery efforts ongoing. For Nigeria, experts warn of potential ripple effects, as many local banks rely on international payment systems. Authorities are urged to bolster cyber defenses to prevent similar incidents.

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