Major European financial infrastructures join forces against cyber threats
February 27, 2020

A group of Europe's largest and most important financial infrastructures (including central banks, clearing houses, stock exchanges and payment system providers) have joined forces with law enforcement agencies to share vital cybersecurity threat information to help protect European citizens' savings against cybercriminals.

The core objectives of the initative, known as Cyber Information and Intelligence Sharing Initiative (CIISI-EU), are to protect the financial system by preventing, detecting and responding to cyberattacks, to facilitate the sharing of information and good practices between financial infrastructures, and to raise awareness of cybersecurity threats.

"This is the first time that major financial infrastructures, Europol and the European Union Agency for Cybersecurity (ENISA) have jointly taken steps against cyber risk," said European Central Bank Executive Board member and ECRB Chair, Fabio Panetta.

"We hope this will be an inspiring model for other jurisdictions to tackle one of the biggest threats of our time. Cybercriminals are increasingly stealing money, and therefore sharing information will help us to prevent attacks and ultimately protect people's money."

In the coming months, the ECB says it will publish the framework for the CIISI-EU sharing initiative to encourage other jurisdictions to follow suit.





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A group of Europe's largest and most important financial infrastructures (including central banks, clearing houses, stock exchanges and payment system providers) have joined forces with law enforcement agencies to share vital cybersecurity threat information to help protect European citizens' savings against cybercriminals.

The core objectives of the initative, known as Cyber Information and Intelligence Sharing Initiative (CIISI-EU), are to protect the financial system by preventing, detecting and responding to cyberattacks, to facilitate the sharing of information and good practices between financial infrastructures, and to raise awareness of cybersecurity threats.

"This is the first time that major financial infrastructures, Europol and the European Union Agency for Cybersecurity (ENISA) have jointly taken steps against cyber risk," said European Central Bank Executive Board member and ECRB Chair, Fabio Panetta.

"We hope this will be an inspiring model for other jurisdictions to tackle one of the biggest threats of our time. Cybercriminals are increasingly stealing money, and therefore sharing information will help us to prevent attacks and ultimately protect people's money."

In the coming months, the ECB says it will publish the framework for the CIISI-EU sharing initiative to encourage other jurisdictions to follow suit.



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