The CERES (CEntral banks, REgulators and Supervisory Entities) Forum, established through the Financial Services Information Sharing and Analysis Center (FS-ISAC), an industry consortium dedicated to reducing cyber-risk in the global financial system, announced that it has grown its membership to 11 members in 10 countries from Africa, Asia, Europe, North and South America.
Established a year ago as a forum for central banks, regulators and supervisors, the CERES Forum plays a critical role in facilitating multi-lateral information sharing. This enables the financial authorities to rapidly detect, assess and respond to cyber threats in the financial sector.
“Having a trusted peer-to-peer network to share critical information related to malicious cyber-activity is key to effectively guarding against an ever-growing threat landscape,” said FS-ISAC CEO, Steve Silberstein. “We will continue to work with the financial authorities to support this initiative and drive engagement with oversight institutions, as we work together to keep the members apprised of current threats, trends, best practices and solutions.”
Mr Tan Yeow Seng, Chief Cyber Security Officer of the Monetary Authority of Singapore, said, “The CERES Forum has implemented a number of useful initiatives in the past year to increase the situational awareness of members, including holding quarterly threat conference calls and launching a mobile app to share threat intelligence. This will facilitate swift detection and response to potential cyber threats.”
“Building collaboration and sharing information help strengthen Cyber Resilience readiness among central banks and regulators, which would also support regional and global financial stability,” said Mr. Ronadol Numnonda, Deputy Governor, Bank of Thailand.
CERES Forum is independent of FS-ISAC’s membership base and forum members have their own secure portal to share information to ensure confidentiality.