Italian Banks set up Cybercrime response team to maintain Cyber security

Cyber security
Online Security

Big banks are revving up efforts to combat cyber criminals targeting the financial-services industry to maintain cyber security in the sector.

The Bank of Italy, together with the Italian Banking Association and the ABI Lab Consortium recently signed an agreement to strengthen cooperation on cyber security.

The objective is to ensure greater security for operators in Italy’s banking and financial sectors and for the households, businesses and general government departments that use digital services.

According to a U.S. cyber security report released by IBM financial-services industry ranked third in number of cyber attacks last year, after health care and manufacturing.

Finextra reports that the agreement will see the creation of a highly-specialized Computer Emergency Response Team (CERT) for Italy’s financial sector, to prevent and combat cyber threats linked to the development of new technologies and to the digital economy.

CERTFin’s activity will make it possible to circulate news of events and IT security-related phenomena even more swiftly and uniformly, and to strengthen the cyber-intelligence of the banking and financial sectors, benefiting the country as a whole.

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