EBF’s Senior Policy Adviser on Cybersecurity Alexandra Maniati participated at ICT2018, discussing in a plenary panel on “Cybersecurity as key for the digital economy and society” and speaking on cybersecurity in the European banking sector. The panel also focused on the strategic areas where the EU needs to invest to reinforce its cybersecurity and thus protect its economy and society: research, innovation and industrial capabilities.

ICT 2018 took place in Vienna on 4-6 December 2018, organized by the European Commission and the Austrian Presidency of the Council of the EU as an open and broad event where citizens joined science community members, policymakers, industry and ICT-enthusiasts to discuss the future in a digital Europe. This research and innovation event attracted 4,800 visitors and focused on the European Union’s priorities in the digital transformation of society and industry. It presented an opportunity for the people involved in this transformation to share their experience and vision of Europe in the digital age.

Alexandra’s key points included:

Three key challenges re cybersecurity in the banking sector

• Manage cyber risks related to an increasingly complex, interconnected and growing chain of actors;
• Ensure harmonized, consistent and adequate regulation and supervision for all links within this complex chain for better cyber resilience and customer protection;
• Educate, find and retain cyber-skilled employees, and help customers become aware of cyber risks.

Cybersecurity is a shared responsibility

It is necessary for the public and private sectors to work together, across borders, mainly on three levels:

• Continuous and consistent raising of awareness on risks and cyber hygiene for customers, up-skilling and re-training existing workforce, reviewing formal education curricula to shape the future workforce;
• Identification of needs of industry and consumers, and provision of better solutions through a close cooperation between private sector and EU agencies like ENISA and the upcoming European Cybersecurity Industrial, Technology & Research Competence Centre;
• EU-level trusted platforms for the exchange of actionable information to better prevent attacks and more effectively mitigate them when they occur.