Swiss Financial Sector Cyber Security Centre (Swiss FS-CSC) continues growth
As of 1 September, a new partnership with FS-ISAC gives the association’s members access to a broad range of services aimed at further improving cyber security.
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The association Swiss Financial Sector Cyber Security Centre (Swiss FS-CSC) is creating new structures: it recently entered into a partnership with FS-ISAC (Financial Services Information Sharing and Analysis Centre), a member-led non-profit organisation that promotes cyber security and resilience in the financial system. This partnership offers FS-CSC members access to a broad range of services designed to strengthen cyber security – including threat reports and analysis, planning and implementation of crisis response measures, training exercises and support in the event of cyber attacks – with effect from 1 September 2022.
Maximum cyber security
“The Swiss financial sector is a global hub for financial transactions, and it is vital that we maintain the highest possible level of cyber security”, says August Benz, President of Swiss FS-CSC and Deputy CEO of the Swiss Bankers Association. “As part of the worldwide FS-ISAC network, we see the benefits of collaboration and know that it is the best partner to help us in establishing a country-specific system for our members to share information”, he adds.
Alongside its partnership with FS-ISAC, the association is working to expand its own structures. It intends to grow its membership (currently comprising over 125 banks, insurers, associations and affiliates), set up a crisis organisation and improve the financial sector’s cyber resilience even further.
About Swiss FS-CSC
Cyber risks have increased in the financial sector. Close cooperation among financial institutions and with the authorities is therefore essential when it comes to identifying and combating cyber risks. With this in mind, the association Swiss Financial Sector Cyber Security Centre (Swiss FS-CSC) aims to improve the financial sector’s ability to withstand these risks – its cyber resilience – and foster partnerships between financial institutions and authorities with regard to both strategy and operations. The association was formed on 5 April 2022 in Zurich and has more than 125 members, among them banks, insurers and industry associations. Notable members include the Swiss Bankers Association (SBA), SIX, the Swiss National Bank (SNB), the Swiss Insurance Association (SIA) and the Association of Foreign Banks in Switzerland (AFBS). The Swiss Financial Market Supervisory Authority FINMA, the National Cyber Security Centre (NCSC) and the State Secretariat for International Finance (SIF) support it as affiliates and are represented in its key governing bodies.