ECB Announces Cyber Information and Intelligence Sharing Initiative

By Regulatory News

February 27, 2020

ECB announced launch of the Cyber Information and Intelligence Sharing Initiative (CIISI-EU) in EU to share vital cybersecurity threat information. In this context, ECB also published the introductory remarks of Fabio Panetta of ECB, who also Chairs the Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB), at the fourth meeting of ECRB. In the coming months, ECB will publish the framework for the CIISI-EU to encourage other jurisdictions to follow suit.

The core objectives of the initiative are to:

Protect the financial system by preventing, detecting, and responding to cyber-attacks
Facilitate the sharing of information and good practices between financial infrastructures
Raise awareness of cybersecurity threats

In his introductory remarks, Mr. Fabio Panetta mentioned that CIISI-EU will contribute to protecting the European economy and security. The initiative will allow the most important financial infrastructures to share vital technical information among themselves using an automated platform. Members will create a trusted community where they will meet to discuss cybersecurity threats and share related intelligence and best practices. The ECRB members will receive bi-annual threat reports informing them of strategic issues pertinent to their businesses.

Related Links

Keywords: Europe, EU, Banking, PMI, Cyber Intelligence, Operational Risk, Cybersecurity, CIISI-EU, Data Sharing, Cyber Risk, ECRB, ECB

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