On 16 and 17 June the EBF cyber security WG members took part in the second EU Financial Crime Coalition conference organised by the European Cybercrime Center (EC3) of Europol in The Hague.
At this occasion, Wim Mijs, EBF CEO stressed again the importance of public-private partnership, bringing banks and law enforcement together, for the success of the fight against cybercrime.
The EBF partnership with the EC3 signed back in September 2014 “is not simply for show” said Mr Mijs. Together we have been indeed able to take practical steps in bringing these two communities together, promote increased intelligence sharing between them, contribute to joint strategic initiatives and have even assisted in the facilitation of more operational projects for law enforcement.
He concluded that “both sides have something to gain from working together in the many facets of the prevention of cybercrime targeting the financial sector, including education and awareness, strategic projects and in the facilitation of actions aimed at arresting cybercriminals”.
For its part, Europol praised very much the EBF leadership in this area.
On the regulatory side, the Latvian Presidency of the Council did not reach a political agreement on the remaining issues of the proposed Network and Information Security (NIS) Directive discussed on 30 June 2015. The initiative initially aimed to improve the security of critical infrastructure in the EU and ensure that cyber security incidents affecting that infrastructure that have a real-world impact are reported to regulators.
There is still discussion on whether or not to include within the scope of the Directive the so called “internet platforms/internet enablers”. The debate around the level of cooperation among Member States is not closed either. The Commission is still advocating for safe guards regarding the inclusion of some entities within the scope of the Directive: Member States might benefit from a national derogation clause where they can decide on a risk based approach which entities are to be considered within or without the scope of the Directive within the identified critical sectors.
So far no dates are foreseen for technical meeting nor for the 5th trilogue and discussions should start again in September at Parliament level. However, the adoption of the NIS Directive is expected under the Luxembourg Presidency as a top priority.
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