Importance of information sharing to prevent cyber threats
With ICT riskany reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment becoming more and more complex and sophisticated, good measures for the detection and prevention of ICT riskany reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment depend to a great extent on the regular sharing between financial entitiesas defined in Article 2, points (a) to (t) of threat and vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited intelligence. Information sharing contributes to creating increased awareness of cyber threatsas defined in Article 2, point (8), of Regulation (EU) 2019/881: any potential circumstance, event or action that could damage, disrupt or otherwise adversely impact network and information systems, the users of such systems and other persons. In turn, this enhances the capacity of financial entitiesas defined in Article 2, points (a) to (t) to prevent cyber threatsas defined in Article 2, point (8), of Regulation (EU) 2019/881: any potential circumstance, event or action that could damage, disrupt or otherwise adversely impact network and information systems, the users of such systems and other persons from becoming real ICT-related incidentsa single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity and enables financial entitiesas defined in Article 2, points (a) to (t) to more effectively contain the impact of ICT-related incidentsa single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity and to recover faster. In the absence of guidance at Union level, several factors seem to have inhibited such intelligence sharing, in particular uncertainty about its compatibility with data protection, anti-trust and liability rules.