With increasing digitalisation, cyber threats are multiplying and do not spare the financial sector. The best weapon: sharing information about these cyber threats. Incidents, vulnerabilities, mitigation measures, prevention and detection solutions... Sharing knowledge is key to preserving the sector's cyber security.
The EU has understood this, as demonstrated by the Network and Information Security (NIS) Directive, the first EU-wide piece of legislation on cyber security. Its scope was extended at the end of 2021 with NIS2, which streamlines reporting obligations, among other things.
At the ABBL, we encourage our members to share information via :
- The Cybersecurity Group, which brings together CISOs (chief information security officers), information security managers and cybersecurity experts
- The ABBL sharing group on the MISP (Malware Information Sharing Platform supported by CIRCL) where members can exchange with each other and with other communities regarding indicators of compromise (IoCs). The correlation of these IoCs allows members to better understand the modus operandi of attacks targeting the financial sector, both inside and outside Luxembourg.
- The FinAlert messaging solution, which allows members to send an alert to other members in case of a cyber threat.
The ABBL offers two major benefits to members:
- Members can share information anonymously through the ABBL
- Members have quick and direct access to information relevant only to the financial sector
Sharing this information is essential for a common view of cyber attacks on the financial sector and to decide on common preventive actions to be implemented.
By Antoine Van den Bulcke, Adviser - Payments & Digital