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The DCV in the Cyber-Security Workshop ACSDA

The DCV in the Cyber-Security Workshop ACSDA

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ON THE 29TH AND 30TH OF NOVEMBER, THE CITY OF MIAMI RECEIVED MORE THAN 50 PARTICIPANTS OF AMERICA, INDIA AND EUROPE AT THE CYBER-SECURITY WORKSHOP, A CYBERSECURITY WORKSHOP ORGANIZED BY ACSDA TO KNOW THE CURRENT THREATS AND HOW TO COMBAT THEM.

Jaime Fernández, Comptroller and Compliance Manager; Claudio Herrera, Risk Manager, and Eduardo Zamorano, Cybersecurity Officer of DCV attended the Cyber-Security Workshop organized by the Americas’ Central Securities Depositories Association (ACSDA) and which was held this past November. With excellent attendance, the meeting brought together people from different continents to address an extremely relevant issue for the entire financial industry, especially for securities depositories.

The 2-day agenda of the cybersecurity workshop included testimonies and discussions by important panelists on key information security issues, and general descriptions on the ISSA (International Association of Securities Services) Work Group document on Cybersecurity Risk Management in Securities Services, and the Swift’s Customer Security Control Framework.

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From a risk management point of view, the workshop confirms the change of paradigm regarding security strategy; it is not a specific situation or a fashion, but rather a structural issue for companies, which must be agile and more active with respect to these threats, considering that they can affect any actor that is part of cyberspace.

By analyzing the current context, they identified the impact that it is having on the companies’ costs and also the difficulty of finding people trained in addressing these issues. Therefore, challenges that undoubtedly make the scenario even more complex.

Cybersecurity: The threat is real

One of the big blocks in the Cyber Security Workshop agenda delivered relevant information on the subject, that is, recent attacks in the industry and resilience. Leading panelists from Swift, Citibank, EY, Nasdaq, DTCC and Banco de México delivered a cybersecurity overview and new trends and implications for international security, as well as relevant information on the latest cyber-attack cases, especially in Mexico and Chile. In this context, the risks and lessons learned are very relevant for the market’s main actors.

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Cybersecurity: Defense and response

The second part of the cybersecurity workshop program brought together representatives from India, DTCC, Europe and Chile in the “Market Infrastructure” panel, where they discussed the actions that they are adopting from within their companies to detect, defend and recover from possible cyber-attacks.

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Jaime Fernández, Comptroller and Compliance Manager of the Depósito Central de Valores (DCV), participated in this Cyber-Security Workshop panel together with Joydeep Dutta, Executive Director & Group CTO of the Central Depository Services (India) Limited; Jason Harrell, Head of Business and Government Cybersecurity Partnerships, Technology Risk Management of DTCC and, Tom Pieters, of Cyber Roadmap.

In DCV we are up to date with cybersecurity

“It was very important for us to contrast and confirm that what we are doing in DCV is in line with what other actors are doing in the world”, says Fernández after participating in the event, referring to the important effort (from a financial point of view) that is being done to strengthen the Cybersecurity Framework, following the international recommendations of experts and leading the region in several of its initiatives.

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In this sense, it is not only important to know other realities and activities that are being developed by the industry’s main companies; it is also gratifying to be able to demonstrate that DCV is aligned and up-to-date in terms of cybersecurity, and that it is recognized as a highly prestigious reference organization.

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