(Cyber) Security and Financial Sector in the Czech Republic

Berta Jarošová, Tomáš Koutský & Ondřej Černý / 15 Jan 2020

The Prague Security Studies Institute has published a new study focusing on cyber security in the financial sector.

The aim of the report is to demonstrate the latest legislative and regulatory developments in the field of cyber security and financial sector, underlying the cooperation between private and public sector. The overall aim is to point out three selected challenges in the financial sector that are closely linked to cyber security or security more broadly. Namely, the report will address (1) challenges related to implementation of innovations, including open banking and PSD2, the use of Artificial intelligence (AI) and the Cloud strategy; (2) risks related to the emergence of FinTech startups, including cyber risks and the link between startups, data privacy and national security; and lastly (3) risks related to the development of digital currencies, including cybercrime, sanction evasion and the future of global digital currency worldwide.