Financial Crime World

Here is the rewritten article in Markdown format:

Cybercrime and Financial Institutions in Moldova: Exercise Boosts Cybersecurity Preparedness

In a move aimed at enhancing the cybersecurity preparedness of governmental officials and critical service providers in Moldova, a three-day exercise was held from June 14 to 16 in Chișinău. This event marked an important milestone in fortifying the nation’s digital landscape against cyber threats.

Strengthening Resilience and Expertise

The cybersecurity exercise, organized by CybExer Technologies and e-Governance Academy (eGA), aimed to strengthen the resilience and expertise of public authorities and critical service providers. The initiative also raised awareness about the potential effects of cyber incidents. Through this hands-on experience, Moldovan IT experts gained valuable knowledge and skills, enabling them to understand possible threat vectors and protect critical infrastructure.

Quotes

  • “Through this initiative, Moldovan IT experts gain valuable hands-on experience and expertise, enabling them to understand possible threat vectors and protect critical infrastructure and safeguard the nation’s digital landscape effectively. The cybersecurity exercise showcased the commitment of the EU in fortifying the cybersecurity defenses of Moldova.” - Erika Hasznos, Deputy Head of the EU Delegation to the Republic of Moldova
  • “Through the hands-on exercise we were able to provide technical understanding of how to detect the most common kinds of exploits used today, monitor and analyze the attacks and improve teamwork by assigning roles and delegating tasks in a group.” - Epp Maaten, Team Leader of the Moldova Rapid Assistance Project

Exercise Components

The exercise was divided into two parts:

Capture the Flag Exercise

  • Provided participants with essential knowledge and practical skills in tackling cybersecurity challenges
  • Focused on response and investigation activities

Threat Hunting Phase

  • Participants worked diligently to identify and neutralize simulated cyber threats, further honing their technical capabilities in combating evolving cybersecurity risks

Results

The active participation of more than 30 people from public and private sectors demonstrates the determination of Moldova to bolster its cybersecurity posture and protect its citizens, government institutions, and vital service providers from the potential consequences of cyber incidents.

Project Information

The cybersecurity exercise was organized within the European Union-funded Moldova Rapid Assistance Project. This project aims to increase the cyber resilience of public sector organizations and key critical infrastructure sectors, and align their operations with the European Union Directive on the security of network and information systems (EU NIS Directive). The project’s activities are carried out by the e-Governance Academy from May 2022 to November 2023. For more information, please visit www.ega.ee.