News - 14.06.2023

Focus on Cybersecurity livestream

  • FinTech

Have cyber-risks become systemic? With cyber attacks costing approximately 5% of the world’s GDP and the number of attacks growing on a daily basis it is clear that cybersecurity is critical. Financial services is undoubtedly in the cross hairs and our “Focus On Cybersecurity” livestream brought together leading experts to examine how the FS industry is treating this issue.

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From DORA to the Cyber Resilience Act, regulation is critical to ensuring that cybersecurity is an inherent feature across all hardware and software. Lorena Boix Alonso, Director for Cybersecurity of DG Connect at the European Commission, opened our event explaining how the EU is shaping its cyber resilience and the various pieces that the cyber puzzle and how they fit together.

Our panel delved into some of the key challenges that financial services firms are facing as they go about ensuring that their corporate frameworks are prepared for coming cybersecurity challenges. Panellists from The European Investment Bank, Assured Cyber Protection and Luxembourg House of Cybersecurity highlighted the lack of expertise relating to cyber factors, be it at a board level or within the organisation itself, the need to rapidly adapt to new regulations, and the evolution of AI that could make it all the more difficult to respond to sophisticated cyber-attacks.

Our final interview saw Peter Salter, Deputy CISO for EMEA at Barclays Bank, discuss DORA with Sabika Ishaq, CISO at Grant Thornton and President of the WomenCyberForce Luxembourg. One element that they highlighted that to ensure they are operationally resilient and better able to defend their clients, firms must look beyond current compliance methods by investing in new technologies such as AI and Machine Learning.

Access the full replay here.