Af Jochnick: Cyber risks in focus – How can we strengthen financial market preparedness?

“The financial sector must strengthen its resilience to cyber attacks,” commented First Deputy Governor Kerstin af Jochnick in a speech today at Swedbank on the challenges faced by the financial sector.

Date: 20/08/2019 15:30

Speaker: Förste vice riksbankschef Kerstin af Jochnick

Place: Swedbank

A more globalised and digitalised world entails new opportunities when ideas and services move ever faster across national boundaries. But the financial sector is also exposed to risks in the form of cyber threats, for instance. “It is therefore important to increase the resilience of financial undertakings to cyber attacks. More cooperation and sharing of information between the financial sectors in different countries is also needed. Public authorities can play a key role here,” said Ms af Jochnick. 

There is also a need for increased preparedness to manage cyber risks in the financial sector in the event of crisis or war. “At present there is no authority with responsibility for the financial sector to lead the total defence planning for this sector. The Riksbank would be the appropriate authority to shoulder this responsibility,” concluded Ms af Jochnick.

Updated 20/08/2019