European banks take steps to insulate IT systems in Russia

The Commerzbank AG headquarters, centre, in the financial district of Frankfurt, Germany. The bank is preparing to cut off its Russian unit from its system, according to people familiar with the matter. — Bloomberg

European banks operating in Russia are preparing to separate those business from their main computer systems to reduce their vulnerability to cyber attacks following the invasion of Ukraine.

Commerzbank AG is preparing to cut off its Russian unit from its system as one potential scenario and already has the ability to rapidly sever the connection through what’s internally known as "kill switch,” people familiar with the matter said. Deutsche Bank is transferring essential information technology tasks from the country to other locations, another person said. BNP Paribas already cut off staff in Russia from its systems, Reuters reported.