U.S. Treasury, National Bank of Ukraine Sign Cybersecurity Deal

MoU establishes a framework for sharing information related to cybersecurity threats and incidents, cyber threat actors, and best practices.
  • Defensemirror.com bureau
  • 10:04 AM, April 9, 2024
  • 1035
U.S. Treasury, National Bank of Ukraine Sign Cybersecurity Deal

In a move aimed at bolstering cybersecurity and operational resilience, the U.S. Department of the Treasury announced today the signing of a memorandum of understanding (MoU) with the National Bank of Ukraine.

This agreement marks a renewal of shared commitments on cybersecurity that have been in place since 2020.

The MoU facilitates an ongoing exchange of critical information between the National Bank of Ukraine and the U.S. Treasury Department, focusing on emerging cybersecurity threats and best practices in operational resilience.

Todd Conklin, Deputy Assistant Secretary for Cybersecurity and Critical Infrastructure Protection, emphasized the importance of this collaboration: "The U.S. Treasury remains committed to supporting a strong Ukrainian economy, which relies on a resilient financial sector critical infrastructure. Our partnership with the National Bank of Ukraine reinforces this resilience by facilitating the flow of information on evolving cybersecurity threats."

Conklin further highlighted the broader implications of this cooperation, noting, "By working closely with our counterparts in Ukraine, we not only enhance cybersecurity within their borders but also strengthen our preparedness against similar threats in the United States. The interconnected nature of cyber threats requires close collaboration and continuous information exchange."

The MoU came into effect on April 4, 2024, following its signing by representatives in Washington and Kyiv. It establishes a framework for sharing information related to cybersecurity threats and incidents, cyber threat actors, and best practices. Guided by principles of transparency, voluntariness, and confidentiality, the agreement encourages both parties to participate in expert forums, provide assessments and capacity support, and conduct joint training initiatives.

This collaboration underscores the growing international efforts to combat cyber threats and protect critical financial infrastructures against evolving risks. The MoU reflects a commitment by both the U.S. Treasury Department and the National Bank of Ukraine to strengthen cybersecurity measures through sustained cooperation and information sharing.

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