Priya PatelTL;DR:
- A group of European regulators will create a cyber attack coordination body ahead of new rules coming into force.
- The committee aims to enhance cyber security in the financial sector.
In response to the growing threat of cyber attacks, a group of European supervisors has announced plans to establish a cyber security committee. This committee will focus on coordinating efforts to prevent and respond to cyber attacks within the financial sector. The creation of this committee comes in anticipation of new rules that are set to be implemented early next year.
The committee’s primary goal is to enhance cyber security within the financial industry by promoting collaboration and information sharing among regulators. By working together, regulators hope to strengthen defenses and protect against potential cyber threats that could jeopardize the stability of the financial system.
This initiative highlights the increasing importance of cyber security in the financial sector and underscores the need for proactive measures to safeguard sensitive information and infrastructure. As cyber attacks continue to evolve and become more sophisticated, it is crucial for regulators to stay ahead of the curve and adapt their strategies to meet the challenges posed by cyber threats.
Overall, the formation of this cyber security committee represents a significant step towards improving the resilience of the financial industry against cyber attacks and ensuring the safety and security of critical systems and data.
