Cybersecurity
As digitalisation transforms financial services, cybersecurity has become a strategic imperative for banks and financial institutions. The ABBL plays a central role in helping its members build robust cyber resilience while actively contributing to online fraud prevention and awareness.
Through coordination, expertise sharing, and collaboration with national and European stakeholders, the ABBL works to ensure that Luxembourg’s financial sector remains secure, vigilant, and equipped to respond to evolving cyber threats.
Enhancing the Cyber Resilience of Member Institutions
Cyber resilience is essential for maintaining the stability, continuity, and trustworthiness of financial services. The ABBL supports its members by:
- Hosting a dedicated Trust and Cybersecurity Expert Group, which brings together information security professionals from member institutions to:
- Share threat intelligence and mitigation strategies.
- Monitor regulatory developments (e.g. DORA, CRA, NIS2).
- Align cybersecurity priorities across the sector.
- Providing guidance on best practices related to:
- Incident response planning and crisis management.
- Cyber risk governance and board-level awareness.
- Penetration testing, vulnerability management, and third-party risk.
Collaborating with key authorities and partners, including the CSSF, Luxembourg House of Cybersecurity and ICT Luxembourg, the ABBL fosters a collective defence mindset, helping financial institutions strengthen their digital defences through coordination, preparedness, and shared knowledge.
“In an evolving threat landscape, the ABBL helps its members anticipate risks, strengthen defences, and safeguard customers.”
Galina Miroshnichenko
Adviser – Payments & Digital, ABBL
Fighting Online Fraud and Raising Public Awareness
As online threats become more targeted and sophisticated, customer-facing fraud—such as phishing, impersonation, and social engineering—is on the rise. The ABBL is committed to helping prevent online fraud through sector-wide initiatives and public education, including:
- Running or supporting awareness campaigns about phishing, online scams, and identity theft.
- Providing educational materials and participating in financial literacy initiatives that promote secure online banking practices.
- Facilitating cooperation between banks and law enforcement to address fraud trends and coordinate responses.
- Serving as a central point of contact for communication between:
- Member banks.
- Public institutions.
- Consumer protection bodies.
These efforts aim to empower customers with the knowledge and tools to protect themselves, while ensuring that fraud incidents are detected and responded to swiftly and consistently across the sector.
Preparing for the Future of Financial Cybersecurity
The ABBL stays ahead of cybersecurity developments by:
- Tracking emerging risks such as:
- AI-generated fraud.
- Cloud-based vulnerabilities.
- Post-quantum-era encryption threats.
- Engaging with European initiatives on:
- Standardised incident reporting.
- Cross-border cyber exercises and testing frameworks.
- Supporting the development of shared solutions and mutualised security services to reduce costs and increase resilience across the financial community.
