Egypt’s EG-FinCIRT joins global cybersecurity forum FIRST

Ahram Online , Wednesday 17 May 2023

The Central Bank of Egypt's (CBE) Computing Incident Response Team for Egypt’s financial sector (EG-FinCIRT) has obtained accreditation and membership in the Forum of Incident Response and Security Teams (FIRST), an international cybersecurity organization, according to a press release on Tuesday.

Global Digital Transformation.
Global Digital Transformation. (Microsoft).

 

Membership in FIRST aims to enhance cooperation in combating cybercrime, facilitate rapid response, exchange information, and handle threats. In addition, FIRST helps build the technical capacity of members’ response teams and exchange security information to help mitigate attacks.

It also supports cooperation between countries and links response teams to exchange expertise and intelligence. Members can attend seminars, training, and working group meetings. In addition, FIRST provides publications and guides on cybersecurity and internet governance best practices.

EG-FinCIRT met all the technical and organizational requirements to become Egypt’s first sectoral cybersecurity response team recognized by FIRST.

The accreditation is part of the CBE’s strategy to strengthen cybersecurity in the financial and banking sectors, the CBE said. It praised EG-FinCIRT’s work over the past four years in adopting international standards.

EG-FinCIRT’s membership aligns with the CBE’s strategy to enhance Egypt’s participation in implementing its national cybersecurity strategy. It will help state bodies prevent and respond to cyber-attacks in a coordinated manner.

Membership will support raising Egypt’s ranking on the Global Cybersecurity Index, boost confidence in the digital economy, attract investment, and secure critical banking infrastructure through an exchange of incident response best practices, the CBE said.

Egypt is hosting the Cybersecurity and Defense Intelligence Systems (CDIS-EGYPT) between 16 and 18 May 2023.

Last year, Egyptian Minister of​ Telecommunications and Information Technology Amr Talaat stated that Egypt invested EGP 50 billion ($1,618,189,500) in digital transformation projects.

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