Cybersecurity and data security

The financial sector’s business is
based on trust – keeping customer
data secure is fundamental 

  • The financial sector and its services are a vital element of the society and thus make an attractive target for cyberattacks.
  • The Finnish financial sector received the highest possible score in the National Emergency Supply Agency’s assessment.
  • The sector was a step ahead in data protection even before the GDPR, which has required extensive and expensive changes to data systems. We should not be hasty to push for a review of the GDPR, but should first gain more experience of its application.
  • The Finnish financial sector is tightly integrated with the Nordic, European and Global markets. General preparedness planning must therefore be a joint European effort. Preparing against hybrid threats must be regulated at the EU level, at minimum, and harmonised implementation of the regulation must be ensured.
  • There is no need for additional national regulation in Finland. It is important to strike a careful balance between horizontal regulation that applies to all sectors, and sector-specific regulation that only applies to the financial sector.
  • The financial sector is committed to cooperating in emergency countermeasures with authorities and other Finnish industries.


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Infrastructure and Security

Mika Linna

Head of Financial Crime and Cybersecurity