Kosovo Banking Association establishes the Cyber Security Committee

Digitization has transformed the banking industry by creating new opportunities and challenges. Technological development, in addition to improving and simplifying the customer experience in banks with multiple service options, has also increased the need for greater cyber security. As evolution continues, it brings with it new and sophisticated cyber threats. Overall, these factors have made cyber security more important than ever for the banking industry.

Taking into consideration these exact factors, the Board of Directors of Kosovo Banking Association has decided to establish the Cyber Security Committee. The purpose of this committee is to identify and proactively prevent the risks associated with cyber-attacks by ensuring that the banking industry is adequately prepared to respond to such threats.

The Cyber Security Committee is responsible for a number of key issues related to assessing the risk of cyber threats, warning members in time of potential threats, planning efficient responses in case of incidents, advocating to the bodies responsible for drafting laws and regulations, as well as training members and the public to cyber security measures. All this with the aim to increase cyber security and form a better communication between members.

The establishment of this committee proves that commercial banks in Kosovo are vigilant and stay one step ahead of cyber threats. Strong cyber security measures are essential to protecting a bank's customers, finances and reputation in today's digital age.