Press Release

21st of July 2015

A New Working Group on Cyber Security Starts Functioning at the ABB

The adoption of the Network Information Security Directive (NIS Directive) that is going to contribute to the creation of a single regulatory framework and the prevention against cybercrimes in the EU is expected. It is expected to influence the ways of acting against violations in Internet by implementing more adequate approach in fighting against cybercrimes and for removing some obstacles in the information exchange related to those threats.

In that relation and considering the topical social developments the Executive Board of the ABB took a decision in July for the creation of a Working Group on Information Security at the Executive Board of the ABB where each bank is expected to have by two representatives. The aim of this expert structure at the Association is to support information sharing and good practices as well as facilitate the collaboration with other institutions and organizations on the issues on prevention and fighting against crimes related with the usage of Internet in bank operations.

Taking into consideration the priority of those issues in the ABB activities the Executive Board of the ABB appointed in July Mr. Yuriy Genov – Executive Director of DSK Bank EAD and Chairman of the Information Technology Committee at the Executive Board of the ABB as the ABB representative in the Cyber Security Working Group at the European Banking Federation where the ABB is a member.