The World Economic Forum (WEF) has partnered with the Sberbank in Russia in a move to combat cybercrime in financial services.
The WEF’s Centre for Cybersecurity (C4C) plans to recruit six financial institutions to collaborate on information sharing and technological cooperation. Sberbank is the only representative of the Russian business community at the C4C and will actively cooperate with world leaders in all aforementioned areas as the founding partner of the Centre, according to a joint statement.
CEO and chairman of the executive board of Sberbank Herman Gref, said: “In 2017, the World Economic Forum ranked cybercrime as the third most important global risk, while terrorist attacks are only at the 8th place. But, everywhere in the world, people are still more afraid of terrorists in the physical reality, than those in cyberspace.
“The high-level risk urged us to create the complex cybersecurity ecosystem in Sberbank Group that allowed us to ward off 100% of attacks in 2017. Given the global scale of cyberthreat, we understand the importance of relevant knowledge and competence exchange. That’s why today we gladly accept the invitation by the Forum to become the first Founding Partner of the Centre and aim at long-term effective cooperation with its other members.”
The C4C aims to be the first platform for collaboration of global business leaders, major international cybersecurity organizations and representatives of law enforcement agencies to lead the fight against global cybercrime.
It will focus on the development of automated exchange of data on actual cyberthreats and look to establish a global network for cooperation among Computer Emergency Response Teams (CERTs).
C4C also aims to form a strategy and define key areas of cybersecurity development, as well create a global Think Tank for gathering of data on the current situation in cyberspace.
Sberbank will join the initiative and sit on the Global Cybersecurity Board, as well as participate in the implementation of the C4C’s initiatives.
“Cybercrime is a reality we cannot afford to ignore … it is threatening the benefits of the Fourth Industrial Revolution,” said WEF founder and executive chairman, professor Klaus Schwab. “At the Forum’s Centre for Cybersecurity, experts from the business and public sectors, law enforcement and civil society will work towards a society that can withstand these challenges and minimize the damage done by organised digital crime.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
