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Official launch of the B Secure Scheme during the first edition of Cyber Security Summit

The scheme was made possible through “an investment of €250,000, to assist the private sector in cybersecurity enhancement and awareness. The success of our digital economy is tightly intertwined and partly dependent on the sturdiness of our cybersecurity preparedness”, says Parliamentary Secretary Silvio Schembri.

Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri presented in detail the B Secure scheme, which was officially launched during the first edition of the Cyber Security Summit. 

The scheme was made possible, “through an investment of €250,000, to assist the private sector in cybersecurity enhancement and awareness. The success of our digital economy is tightly intertwined and partly dependent on the sturdiness of our cybersecurity preparedness. This is the first time that a government is launching a scheme solely focusing on cybersecurity.  It will prove to be beneficial for Malta, ensuring stability for the private sector, which is indispensable for the Maltese economy, improving cyber-readiness, and investing in cyber-capabilities”, said Parliamentary Secretary Schembri.

The goal is to entice local entities to evaluate and plan the enhancement of their cybersecurity posture, whilst also nurturing a cybersecurity culture in the process.

“However, it is to be made clear that, to attain a comprehensive cybersecurity posture, a one-time exercise is not sufficient. Thus, what is important is for the entity to recognise the value attained through such an exercise, so that this scheme is used as a foundation, on which they can embark on further security tasks to strengthen their posture”, said the Parliamentary Secretary.

This scheme is for all entities established in Malta, or providing a service in or from Malta, including companies, the self-employed and partnerships.

 

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At the core of the implementation process is training, people trained and hours of risk assessments.

Services will start being delivered as from January 2020, including:

  • 330 hours of training;
  • 220 people trained;
  • 123 hours of risk assessments.

Furthermore, an elected scheme board will process all applications, which need to be submitted by no later than the 24th of November.

“As a government, we are committed to protecting our digital economy. We have made great strides in the digital sector, and cybersecurity must be fully immersed into our way of thinking and doing. Through the boosting of the concept of cybersecurity, as a government, our vision is to ensure the security of our digital economy, to allow the private sector to flourish, and to instil the mindset that prevention is better than cure. In view of our efforts to attract new companies, new investment and the exploration of new economic niches to diversify and future proof our economy, cybersecurity must be fully incorporated into our ecosystem”, said Parliamentary Secretary Schembri. 

 

 

When addressing the first edition of the Cyber Security Summit, Efrem Borg, Head of MITA’s Information, Security and Governance Department, explained how MITA is observing a significant increase in the volume and sophistication of cyber-attacks on government and local businesses. “We can safely say that cyber-attacks have become the domain of choice for cyber-criminals, so we need to up our game and increase our efforts collectively.  MITA is continuously investing in its people and tools, to strengthen our security preparedness, enabling us to detect and contain attacks in their earliest phases.”

“To be successful, we need to learn from each other, collaborate, share experiences and intelligence. Cyber Security Malta has teamed up with MITA to organise the first ever national cyber security summit, to bring together cyber enthusiasts, professionals, policy makers and suppliers under one roof”, Efrem Borg said.

President of the Chamber of Commerce Peter Xuereb said that the fact that the B SECURE scheme offers an opportunity for every company to become aware of these challenges is already a step towards the right direction. “We need to distance ourselves from thinking that there’s nothing that can prejudice the information and digital data that we have in our businesses. The fact that we realise and appreciate that these risks exist, is already a step in the right direction.”

Cyber Security Summit 2019 is the first ever summit of its kind organised by Cyber Security Malta, in collaboration with the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, MITA, the Malta Chamber of Commerce, Enterprise and Industry, and Tech.mt.
A one-day summit is aimed at further educating the local professionals and executives about cybersecurity.

 

Source: Press Release by the Parliamentary Secretariat for Financial Services, Digital Economy and Innovation

Published: 28 October 2019 

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