Project description
Confronting sophisticated threats to the financial sector
The infrastructures of the financial sector are increasingly vulnerable to security attacks due to their criticality, complexity and interconnectivity. Fragmented and static security measures have proven inadequate. In this context, the EU-funded FINSEC project will introduce an integrated cyber and physical security reference architecture that enables timely preparation and collaborative risk assessment, countering complex threats and their cascading effects. With realistic pilots and the engagement of over 500 experts, FINSEC aims to establish an ecosystem of tailored security solutions, ensuring the fortification of the financial sector and safeguarding global financial systems. Overall, the project holds the promise of fortifying the financial sector against evolving security threats, fostering collaboration and ultimately safeguarding the integrity of our global financial systems.
Objective
The infrastructures of the financial sector are nowadays more critical, sophisticated and interconnected than ever before, which makes them increasingly vulnerable to security attacks. Despite increased security, most security measures remain fragmented and static i.e. inappropriate for confronting sophisticated and asymmetric attacks. FINSEC is a joint effort of prominent stakeholders in the financial sector and global leaders in physical & IT security, towards introducing a novel standards-based reference architecture (RA) for integrated (cyber & physical) security. The RA will enable timely preparation against attacks, while at the same time facilitating stakeholders’ collaboration for risk assessment/mitigation in the financial supply chain, as a means of confronting complex threats and their cascading effects.
FINSEC will provide a mature implementation of the RA, based on the enhancement and integration of novel solutions of the partners (eg., Anomaly Detection, AI CCTV Analytics, Risk Assessment Engines, Collaborative Risk Analysis & Management, Compliance), which will be bundled in a toolbox. The RA implementation and the toolbox will be validated through realistic pilots involving stakeholders in the identification, assessment and mitigation of threats. The five pilots involve high-impact scenarios including SWIFT network protection, buildings and ATM networks security, peer-to-peer payments network protection, risk assessment for insurance purposes and securing financial SMEs.
The pilots will engage >=500 security & finance experts, while providing a representative coverage of the financial services industry (ie. banking, capital management, insurance, card & P2P payments), which is a sound basis for FINSEC’s broader impact. Towards maximum impact, FINSEC will establish an ecosystem of security solutions for the financial sector, which will be supported by the partners’ dense network of sales, marketing, standardization and regulation channels worldwide.
Fields of science
Programme(s)
Funding Scheme
IA - Innovation actionCoordinator
20139 Milano
Italy
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Participants (27)
Participation ended
28037 Madrid
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Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.
Participation ended
28760 Tres Cantos Madrid
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49527 Petach Tikva
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80807 Munchen
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Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.
92602 Paris
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Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.
W1U 3BW LONDON
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20063 Cernusco Sul Naviglio Mi
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022183 Bucuresti
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14564 Nea Kifisia
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29007 MALAGA
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00187 ROMA
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20147 Milano
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14129 Berlin
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
20149 MILANO MI
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061344 BUCURESTI
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
DN49SB DONCASTER
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
MK14 5HE Milton Keynes
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
1101 Lefkosia
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
41100 Modena
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
0314 Oslo
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00185 Roma
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75116 Paris
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38122 Trento
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00185 Roma
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Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.
16126 Genova
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102 52 ATHINA
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28760 Tres Cantos Madrid
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