Lithuania Launches Real-Time Cyber Threat Coordination With Central Bank

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 1. The National Cyber Security Center (NCSC) under the Ministry of National Defense and the Bank of Lithuania have signed a cooperation agreement that marks a major step forward in cyber defense coordination. With this move, the Bank of Lithuania becomes the first financial market regulator to join the National Cyber Incident Management Platform coordinated by the NCSC, Trend reports.

The integration will pave the way for a seamless flow of information on cyber incidents in the financial sector, helping to nip emerging threats in the bud with quicker and more efficient responses.

“This is a significant milestone-not only in the development of the platform but also in strengthening the cyber resilience of the entire financial sector. It represents a new stage of intersectoral cooperation and a breakthrough in automated information sharing,” said NCSC Director Antanas Aleknavičius.

The platform, cooked up by the NCSC, serves up real-time information on cyber threats and incidents, allowing for a coordinated response and bolstering national cybersecurity readiness. Its deployment reflects consistent national policy efforts by the Ministry of National Defense to enhance threat response and data protection at a national scale.

“Cybersecurity isn't just about technology-it's about operational speed and coordinated action. This partnership with the NCSC will allow us to react more quickly to threats and enhance the resilience of our entire financial system,” said Julita Varanauskienė, Deputy Chair of the Board of the Bank of Lithuania.

The agreement also lays the groundwork for secure communication channels, ensuring that when the chips are down, responses to potential cyber threats or large-scale incidents are as smooth as butter. The NCSC will provide expert support, monitor compliance with cybersecurity requirements, and organize joint exercises and training for the central bank.

This partnership will enhance organizational readiness while simultaneously augmenting the overall industry's capacity to address escalating cyber threats.

In alignment with Lithuania's overarching national framework aimed at fortifying cybersecurity postures, this accord serves as a paradigm for other entities engaged in the governance of cyber risk mitigation to emulate.

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