In a proactive move financed by the European Union to bolster the cybersecurity posture of its financial sector, a comprehensive cyber risk assessment questionnaire has been developed. It will soon be distributed to banks and financial institutions across Kosovo.
This initiative, a collaborative effort with the Kosovo Banking Association and leading cybersecurity professionals from various banks, aims to provide a holistic view of the current cybersecurity landscape within the financial sector and is implemented as part of the Cyber Balkans project.
We want to provide financial institutions with a clear understanding of their standing relative to their peers and to guide their cybersecurity strategy – building a stronger and more secure financial sector,”
commented the survey’s goal Mr. Arbnor Imeri from Cybersecurity Committer at Kosovo Banking Association.
As digital services expand, so too does exposure to complex cyber threats. High-profile incidents globally underscore that cyber risk is not merely an IT concern but a critical business risk that impacts customer trust, regulatory compliance, and financial system stability.
The survey covers many areas vital to a robust cybersecurity framework, including:
- Cybersecurity governance and adopted frameworks.
- Identification and management of cyber threats and vulnerabilities.
- Implementation and effectiveness of security controls and access management.
- Incident response preparedness and historical incident data.
- Risk mitigation strategies and alignment with risk registers.
- Compliance with regulatory requirements and third-party risk management.
- Forward-looking considerations for emerging risks and strategic planning.
- Security of digital banking platforms and payment systems.
By collecting and analysing the responses, the initiative seeks to identify common gaps and challenges faced by banks of varying sizes, assess the maturity of cybersecurity practices, and understand trends in cyber risk perception and preparedness among industry peers.
The data-driven insights gathered from this assessment under the Cyber Balkans project will be compiled into a final report, which will be published in the autumn.
