Financial Stability Board peer review urges the Netherlands to deepen cyber resilience through stronger information sharing, wider red team testing and third party risk analysis

The Financial Stability Board (FSB) published its second peer review of the Netherlands, assessing efforts to strengthen cyber resilience in the financial sector and mitigate financial stability risks from operational incidents and cyber-attacks. The review finds that Dutch authorities have made significant progress over many years, including developing market-leading practices such as the Threat Intelligence-Based Ethical Red-teaming (TIBER) and Advanced Red Teaming (ART) frameworks, supported by strong public sector coordination and industry participation in threat intelligence. Despite the maturity of the Netherlands’ approach, the FSB recommends further enhancements given the financial system’s interconnectedness and evolving cyber threats. Priorities include regularly reviewing the purpose and membership of industry information-sharing groups and enabling rapid information sharing during crises; continued support by De Nederlandsche Bank for broader take-up of ART by helping more financial entities become sufficiently mature to conduct cyber resilience and red teaming tests; and establishing a national analysis to identify critical third-party providers, assess concentration risks and define a strategy for domestically critical third parties.