Russian cyberattacks on US and Europe may cause economic anarchy, warn western agencies

Frankfurt/Moscow: – Western agencies have warned that Russian President Vladimir Putin will issue instructions to launch massive cyberattacks on the US and European banks, given the tension rising over the Russia-Ukraine issue. Some media agencies have claimed that these cyberattacks could result in economic anarchy on the global level. It had been revealed last month itself that major cyberattacks were launched on the Ukraine government websites. Russia was said to be involved in these cyberattacks.

Moreover, it has been exposed that the Russian hackers had a hand in the cyberattacks carried out on the international level in 2015, 2017 and 2020. The biggest of them is considered the one launched on the US companies Fire Eye and SolarWinds in 2020. In retaliation for this attack, the United States had imposed sanctions against Russia and expelled Russian diplomatic officials.

Against this background, the prediction of fresh cyberattacks becomes significant. There is massive tension reigning on the international level over the Russia-Ukraine issue. The United States, Europe and NATO are preparing to retaliate against Russia if it attacks Ukraine. It is also indicated that Russia will face harsh sanctions. Therefore, taking all this into account, the possibility is that Russia could rock these countries with massive cyberattacks.

Along with the European Central Bank, agencies in the United States, the United Kingdom and Germany also have issued alerts in this regard. The European Central bank has instructed the banks to practice cyber wargames under its jurisdiction. The New York Department of Financial Services has issued an alert regarding cyberattacks at the end of January. British National Cyber Security Centre has warned the big companies to maintain stronger vigil regarding cyber security. Whereas, Mark Branson, chief of the German BaFin agency, has suggested that the geopolitical situation and security are connected to the cyber wars.