Sberbank holds cybersecurity workshop at World Economic Forum in Davos

Jan 21, 2020
  • Experts address possibility of worldwide cybercrisis and suggest measures to prevent it globally


January 21, 2020, Davos — Sberbank has held a working discussion called “Risk or Crisis Management: Why Prevention Better than Mitigation?” during this year’s World Economic Forum (WEF) in Davos. The session was held ahead of the International Cybersecurity Congress scheduled for July 9 and 10, 2020 in Moscow’s World Trade Center.

Moderated by Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank, and Dmitry Samartsev, CEO at BI.ZONE, Sberbank’s cybersecurity subsidiary, the workshop also welcomed representatives of major international companies, government organizations, and global cybersecurity experts from Russia and abroad.

The discussion was dedicated to comparing two approaches to ensuring cybersecurity – thought-through risk management, which implies heavy investment in preventive protection against cyber incidents, and crisis management aimed at mitigating the potential consequences of cyber-attacks that have already happened. Participants analyzed how these approaches are being applied at the local, regional and global levels, noting that progress in combating cybercrime is only possible if cyberthreats are responded to proactively.

Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank,

“Booming technology is ahead of cybersecurity legislation, and cybercriminals, unlike companies and states that are limited by national borders, are one step ahead. In order to learn how to resist them, we must analyze and anticipate future threats, developing a risk-based approach. The adoption of common rules and standards at the local and international level, the mandatory implementation of cybersecurity standards at the architecture level of any product or process, and raising people’s cybersecurity awareness are becoming critical elements in building a global cybersecurity system. And it’s especially true amid cyber risks that are constantly changing. We must pay much more attention to this, otherwise cybercrime damages will grow at the same exponential rate as new technologies.”

Dmitry Samartsev, CEO, BI.ZONE,

“According to the World Economic Forum, in 2018 global cybercrime economy generated over USD1.5 tn. In 2022 losses are forecast at USD8 tn, while in 2030 they might reach USD90 tn, which overshoots the global GDP of today. Obviously, the cybercrime threat is one of the world’s key risks and it keeps climbing. For example, last year, zero-day attacks that employed previously unknown malware were performed once a week, while today they happen every day and in 99% of cases they succeed, because these are new threats and the vast majority of organizations are not immune to them. The adoption of new technologies, such as 5G and artificial intelligence, will enable cybercriminals to carry out attacks that are dozen or hundred times greater than what they can do today, and we must learn to prevent them before we’re faced with a real cybercrisis.”

At the end of the session Stanislav Kuznetsov and Dmitry Samartsev invited all participants to readdress the issues at the International Cybersecurity Congress scheduled for July 9 and 10, 2020 in Moscow’s World Trade Center.

The International Cybersecurity Congress is one of the key cybersecurity events in Russia and Eastern Europe and a unique open dialogue platform uniting government officials, multinational corporations, law-enforcement bodies and expert companies. Last year the Congress was attended by over 2,700 delegates from 687 organizations and 65 countries. The very first Congress was attended by Russian President Vladimir Putin in person.