Board to bolster information sharing across the European and global cyber threat landscape
The Hague, June 27, 2023 – FS-ISAC, the member-driven, not-for-profit organisation that advances cybersecurity and resilience in the global financial system, today announced the formation of its Europe Board of Directors. This reaffirms FS-ISAC’s commitment to protecting the global financial sector from rapidly evolving cyber threats by strengthening regional information sharing.
The Europe Board of Directors will oversee Europe-based activity as well as coordinate with the global Board of Directors to mitigate knowledge gaps based on geography. Daniel Barriuso, Group Chief Transformation Officer, Grupo Santander, will serve as the Board’s Chair.
“I’ve had the privilege of working with FS-ISAC to bolster the financial services sector’s collective defences through multiple threat cycles,” said Barriuso. “As the first Chair of the Europe Board of Directors, I look forward to strengthening the real-time information sharing community so critical to our sector’s resilience in today’s cyber threat landscape.”
In addition to helping to deepen FS-ISAC’s intelligence, security, and resilience work on the continent, the Europe Board of Directors will help build public-private partnerships and further relationships with other critical infrastructure sectors, including energy and telecommunications, as well as key third-party service providers. As the financial sector implements Europe’s Digital Operational Resilience Act (DORA), managing key risks such as those of the sector’s supply chain is increasingly a collaborative enterprise.
“The ever-changing cyber threat and regulatory landscape in Europe demands a localised group of experts who understand the similar markets and cultures in which we operate,” said Beate Zwijnenberg, Global CISO, ING, who serves as Director on both the Europe and global boards. “The financial services sector must come together to collectively navigate these changes and the creation of this Board is the next step in ensuring the experiences of FS-ISAC’s Europe-based members are incorporated into the global community.”
The regional leadership in Europe will also collaborate on FS-ISAC’s growing intelligence offerings in the fraud landscape, including identity fraud and business email compromise, as well as continue to discuss how generative AI is being used by malicious actors to adapt traditional cyber tactics, such as social engineering. AI has the potential to erode consumer trust in digital channels, and financial institutions need to take action to ensure the sector successfully adapts to this large-scale technological shift and the new risks that accompany it.
“Resilience of the financial services sector is not only accomplished through individual preparation, but also by a greater effort from the industry as a whole, both in Europe and around the world,” said Europe Board member Jayaraj Puthanveedu, MD, Global Head of Resilience, Cyber, and Digital Fraud, BNP Paribas. “Only the development of collective muscle memory, formed through cross-border exercising, local training, and collaboration, will build operational resilience on behalf of Europe’s financial sector and improve global response time in case of large-scale incidents.”
“Leveraging our collective knowledge and wisdom is crucial to staying ahead of our adversaries, avoiding re-inventing the wheel for best practices, and responding to incidents swiftly and decisively,” said Europe Board member Carsten Fischer, Deputy Chief Security Officer at Deutsche Bank. “This will undoubtedly improve the efficacy and efficiency of our threat analysis and mitigation efforts across the industry.”
“Given the borderless nature of the cyber threat landscape, it’s easy to feel that only global intelligence and global solutions are required. But it’s important to remember that markets and institutions all contain nuance based on their location,” said Steven Silberstein, CEO, FS-ISAC. “Creating this layer of board leadership focused on and specializing in Europe allows for us to better account for that nuance and enable FS-ISAC to share specific and actionable intelligence and best practices to our European members.”
Join the new Europe Board members at FS-ISAC’s 2023 EMEA Summit in Amsterdam, 6-8 November 2023. To register, click here.
FS-ISAC is the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, protecting the financial institutions and the people they serve. Founded in 1999, the organization’s real-time information-sharing network amplifies the intelligence, knowledge, and practices of its members for the financial sector’s collective security and defenses. Member financial firms represent $100 trillion in assets in 75 countries.
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