Switzerland's biggest bank is increasing its efforts to combat cyber crime, as the Swiss government also prioritizes the threat.
Zurich-based UBS is planning to set up a research center in Israel, according to comments by the bank’s head of private banking in Israel Gerry Livnat, at a recent technology conference. The center, which would employ up to 100 jobs, will focus on cyber security, as the bank confirmed to finews.com.
«We are concerned about potential information leaks and therefore invest a lot in the cyber field,» Livnat said at the conference, trade publication «Calcalistech» reported.
Cyber Hub
For the Swiss government the financial industry's fight against cyber crime is also a key priority, as shown in its efforts with several key financial players to launch a national cyber security center (NCSC) next year.
The Israeli army maintains its own cyber specialists, which has helped the country to become a world-leading hub in the domaine. Once discharged from service, many have gone on to found start-ups.
