Cooperation for more cyber security in the financial sector: BACS and Swiss FS-CSC intensify collaboration
The Federal Office for Cyber Security (BACS) and the Swiss Financial Sector Cyber Security Center (Swiss FS-CSC) are intensifying their cooperation in order to further strengthen cyber security in the Swiss financial sector in the long term. With the cooperation agreement, they are joining forces and jointly implementing targeted measures against growing cyber threats.
The Swiss financial center is one of the most important in the world. A successful cyberattack can not only have serious economic consequences for individual financial institutions, but can also undermine confidence in the entire financial center and its ability to function. In view of this threat situation, coordinated cooperation between the Confederation and the financial sector is important. The Federal Office for Cyber Security (BACS) and the Swiss Financial Sector Cyber Security Center (Swiss FS-CSC) have therefore expanded their partnership and signed a cooperation agreement. The aim of the partnership is the structured exchange of information on threats, risks, methods and trends in the area of cyber security. The aim is to increase the financial sector's resilience to cyber threats and improve the protection of critical infrastructures in a targeted manner.
New agreement strengthens cybersecurity cooperation in the financial sector
The agreement creates the basis for individual analysts at Swiss FS-CSC to gain access to sector-relevant information from BACS. This will be used to create financial market-specific analyses, identify new attack vectors and threat patterns and develop well-founded situation reports for the sector. The results of these analyses are made available to the members of the Swiss FS-CSC and published via the national Cyber Security Hub (CSH) of the BACS.
The BACS provides the organizational and technical framework for this. The analysts of the Swiss FS-CSC are integrated into the existing work processes of the BACS, but work independently and are subject to the authority of the Swiss FS-CSC.
New partnership focuses on flexible further development
The new partnership has a modular structure and is open to gradual further development in order to optimally integrate the future needs of the financial sector. The agreement was signed by Florian Schütz, Director of BACS, August Benz, President of Swiss FS-CSC, and Alexandra Arni, Managing Director of Swiss FS-CSC.
Source: ncsc.admin.ch
