Financial Crime World

Bulgaria’s Advanced Internet Infrastructure Makes it a Prime Target for Cybercrime

Rapid Development in IT and Communication Technologies Creates Opportunities for Foreign Investment, But Also Poses Significant Cybercrime Risks

Sofia, Bulgaria - With its advanced internet infrastructure, high number of users, and payment systems, Bulgaria has become a key target for cybercriminals. The country’s rapid development in IT, AI, Big Data, and communication technologies has triggered significant interest from cybercriminals.

National Strategy for Cybersecurity: “Cyber Resilient Bulgaria 2020”

According to recent reports, 57% of Bulgarian organizations have been subject to daily or monthly cyberattacks, with a 20% increase in attacks against businesses. In response to these growing threats, the Bulgarian government has adopted a National Strategy for Cybersecurity called “Cyber Resilient Bulgaria 2020”, aiming to provide better protection for citizens, businesses, governments, and critical infrastructure.

Public Safety and Traffic Safety Challenges

Bulgaria’s public safety and traffic safety systems are also facing challenges. The country has a video surveillance system in most large and mid-sized cities, with over 3,000 cameras monitoring pedestrian areas, major crossings, and traffic safety in Sofia alone. However, sensitive zones, including traffic safety and public safety, will be added to the monitored areas.

Improving IT Security: A Top Priority for Financial Institutions

Improving IT security is a top investment priority for Bulgarian financial institutions, with 67% of banks and insurance companies planning to increase their spending on security technology and invest in automating key customer services.

Security Companies and Services

There are over 3,200 registered security companies in Bulgaria, providing centralized security services through monitoring centers and vehicle patrols. The leading security companies belong to the National Association of Trade Security and Security Companies (NAFTSO), which employs over 22,400 people.

Trade Events and Opportunities

Bulgaria will host several trade events in the coming years, including:

  • INTERNATIONAL DEFENCE EQUIPMENT AND SERVICES EXHIBITION HEMUS 2024
  • Partner-Defence exhibition 2023
  • Black Sea Defence and Aerospace 2024

These events offer opportunities for companies to showcase their latest products and services.

Resources

For more information on Bulgaria’s cybersecurity efforts, public safety, traffic safety, security companies, trade events, and resources, please visit:

Contact: Peter Delin, Commercial Specialist U.S. Commercial Service Sofia Email: peter.delin@trade.gov Phone: +359-2-939-5784