FS-ISAC launches program to bolster the financial sector’s supply chain security

By Edlyn Cardoza

FS-ISAC, a global cyber intelligence sharing community solely focused on financial services, recently announced the launch of its Critical Providers Program designed to strengthen the financial sector’s supply chain security. As critical service providers increasingly host, connect, and protect a substantial percentage of financial institutions’ infrastructure, FS-ISAC created the program to foster continuous collaboration and information sharing between its member firms and their providers. This will bolster the industry’s protections and preparedness against sophisticated cyber threats.

Akamai Technologies, Inc., the world’s most trusted solution to power and protect digital experiences, joins the Critical Providers Program as a founding member to help facilitate a two-way dialogue with the financial sector about threat intelligence and cybercriminal tactics.

“As financial services adopt new technologies to evolve the way they operate and serve customers, critical providers have become both an important ally to the industry and a target for cybercriminals,” said Teresa Walsh, Global Head of Intelligence of FS-ISAC. “The Program will ensure our members efficiently receive accurate and timely security information from their critical providers. In the event of a large-scale incident, this will empower our members to act and/or remediate expeditiously, while arming them with the pertinent information to brief key stakeholders.”

“We are honored to be a founding member of this important program and applaud FS-ISAC for taking a leadership role in facilitating direct communication between critical providers and the financial sector,” said Dr. Boaz Gelbord, Chief Security Officer, Akamai. “We are looking forward to sharing what we are seeing from the unique vantage point of our globally distributed edge platform, listening to the members’ experiences, and collaborating on ways to mitigate current and future risks.”

During a large-scale cyber incident or threat involving the sector and its critical providers, the Program will leverage FS-ISAC’s dedicated communication channels to expedite the dissemination of accurate information necessary to address the immediate risks and keep the industry safe.