Large European financial infrastructures join forces against cyber threats

The initiative to share vital cybersecurity threat information to help protect European citizens’ savings against cybercriminals was launched by a group of Europe’s largest and most important financial infrastructures, members of the Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB), chaired by the European Central Bank (ECB).

Cyber threats pose a serious risk to the stability of the European and global financial system. Cyber threats are borderless, and the capabilities of the attackers are constantly evolving, threatening to disrupt the interconnected global financial systems.

The core objectives of the initiative, 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.

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