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.

Filter

All content on the topic

Still have questions?

|

Contact FFI experts

Legislation

Satu Wennberg

Head of Consumer Protection

Investor protection, consumer protection and data protection, securities market legislation

Infrastructure and Security

Mika Linna

Head of Financial Crime and Cybersecurity

Financial sector continuity, bank and financial services security, information security, anti-money laundering, counter-terrorist financing​ and fraud prevention