€250,000 cyber security scheme launched; ‘cyber security must be incorporated into ecosystem’ - Silvio Schembri
The government has launched the first-ever dedicated cyber security scheme, with Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri saying that, “cyber security must be incorporated into the country’s ecosystem” as it looks to continue future-proofing its economy.
Malta’s first ever Cyber Security Summit took place yesterday, with the launch of the B Secure Scheme from Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, and presentations and keynote addresses from experts such as Chamber of Commerce President David Xuereb, MITA’s Ephrem Borg, and the CIO of the ROKiT Williams F1 team Graeme Hackland.
More than 400 delegates from a raft of companies in the private sector attended the summit, with Schembri noting that this shows that there is an appetite for knowledge, which in turn gives the courage to continue to evolve.
Schembri’s speech centred on the launch of the B Secure Scheme, a government investment of €250,000 specifically intended to instil a cyber security mentality in the private industry.
A recent survey carried out found that 40% of all local businesses have suffered a cyber attack. 83% of large organisations
had fallen victim to at least one cyber security incident, and 46% of firms were most affected enterprises, with fraudulent emails, scam calls, and the unknowing installation of malware or malicious software being the main sources of these attacks.
He said that the strategy aims to allow the private sector to flourish, to instil a prevention is better than cure mindset, and to encourage more collaborations with other countries, as has been done in an MOU with Singapore already.
“In view of our efforts to attract new companies, new investment and the exploration of new economic niches to diversify and futureproof our economy, cybersecurity must be fully incorporated into our ecosystem”, Schembri said.
The B Secure Scheme, which aims to assist the private sector in cybersecurity enhancement and awareness, is the first government scheme solely focused on cyber security and is dedicated to ensuring the stability of the private sector, invest in cyber capabilities, and improve cyber readiness.
“It is that to attain a comprehensive Cyber Security posture, a onetime exercise is not sufficient”, Schembri said before adding that “what is important is for the entity to recognise the value attained through such an exercise, so that this Scheme is used as a pediment on which they can embark on further security tasks to strengthen their posture.”
The scheme is based on three pillars; training courses for executive and industry professionals; testing of the network and wireless infrastructures and web application solutions; and testing of external hosts against known vulnerabilities.
At the core of the implementation process is training, people trained and the hours of risk assessments. Services will start being delivered as from January 2020, and will see 330 hours of training, 123 hours of risk assessments, and a target of 220 people trained.
An elected scheme board will handle applications, the eligibility and selection criteria will be defined, while training will be on a first come first served basis. Applications for risk assessments will be evaluated by the scheme board based on a specific criteria centred on the exposure to cyber threats.
The scheme is open to any entity in Malta – including self employed persons and partnerships – and registration opens today and closes on 24 November this year.
‘No business is too small to not be at risk of a cyber attack’ - Chamber of Commerce President
Chamber of Commerce President David Xuereb said that while technology has allowed us to do business in a faster, more reliable, and widespread way, there are also risks to it. Illicit use of data can change the world, he said referring to the Cambridge Analytica political controversy as a high-level example.
“No business is too small to be at risk of a cyber attack”, Xuereb said while noting that smaller firms are more vulnerable due to their lack of preparedness, which is in itself a source of concern.
“Many believe that they are not at risk even though the figures show otherwise”, he said before noting that it is not an overstatement to say that cyber security is one of the defining issues of our time, describing it as a continuous threat that requires attention.
The Chamber, he said, is taking cyber security very seriously and considers it to be a priority; a risk that needs the most attention so as to safeguard not only revenues, but also livelihoods and the positive economic development of the country.
The Head of the Information Security and Governance Department at MITA Ephrem Borg meanwhile spoke of the awareness and outreach on cyber security that the entity had done with over 3,000 students and now in the public sector.
A recent MITA survey, he explained, shows that only 35% of SMEs provide cyber security training to their employees, while 80% would like to be able to provide such training and 75% see great value in assessing their infrastructure for vulnerabilities.
He noted that MITA has one of the highest skills levels in Malta when it comes to this sector; a level which means that their employees can look eye to eye with professionals around the globe.
He also spoke of the new security tools – artificial intelligence, machine learning, big data – that the authority has invested in to analyse cyber trends across the global landscape, amongst other measures and investments, which will ultimately make it easier to identify certain threats.
Panel discussions on role of regulators, data sharing bring together local and international experts
Two panel discussions followed, with the perspective of regulators and data sharing being the subjects at hand.
The first panel, titled ‘Cyber Security through the eyes of the Regulators’, was made up of Ronan McCurtin, the Regional Vice President of Northern Europe for Acronis; Jason Farrugia, Chief Technology Officer of the Malta Gaming Authority; Sandra Saliba, a senior analyst at the Malta Financial Services Author