Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG

    Sberbank and the Pension Fund of Russia concluded an agreement on cybersecurity cooperation at the 26th International Financial Congress. Sberbank Vice-Chairman of the Management Board Stanislav Kuznetsov and PFR Vice-Chairman of the Management Board Alexei Ivanov signed the agreement.

    Under the agreement, Sberbank and the Pension Fund are to engage in long-term cooperation on a free-of-charge and mutually beneficial basis in the area of cybersecurity, the aim being to join their efforts in countering cyber-threats.

    The cooperation will involve a number of areas. Sberbank and PFR will exchange statistics, practical expertise, methodological recommendations and any other information of potential mutual interest, above all about new types of malware; ways to counter web attacks and to remedy their consequences; and detected significant incidents caused by web attacks on web resources.

    In addition, PFR and Sberbank will hold joint events to share expertise and achievements in responding to detected web attacks and cybercrime. The shared experience will be used to improve the Russian Federation legislation on combatting cyber-crime.

    The parties will also hold joint data security professional development events for employees, including consultations, workshops, internships, training classes and courses.

    “To counter cyber-crime effectively, it is not enough just to create or develop in-house security solutions; we need to join our efforts, too”, Stanislav Kuznetsov said. “Cooperation with PFR will help us resolve many urgent problems in that area. One of our priorities is to protect seniors from cyber-criminals”.

    Cybersecurity is one of the most important components of the Digital Economy programme, a document setting out the goals and objectives for development of the digital economy, an economic system characterized by transition to a qualitatively new level of IT applications in all areas of social and economic activity.

    Developed by the Russian Government and the Administration of the President of the Russian Federation, the programme sets out a number of stages through 2025 marking the goals and objectives for development of the digital economy in the Russian Federation. The following cybersecurity targets have been set for the Russian Federation: 10th place in cybersecurity rankings by 2020, rising to 8th place by 2025.