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St Kitts and Nevis (WINN): Governor of the Eastern Caribbean Central Bank Timothy Antoine addressed the issue of the bank's response to the growing threats of cyber attacks.

“Cyber security is actually one of the top issues facing Central Banks all over the world including the Eastern Caribbean Central Bank. We have been involved in a number of international forums on the issue of cyber security. Only a couple of weeks ago, we had a meeting of all security chiefs of Central Banks in the CARICOM area and we hosted them at ECCB and  that was one of the main issues that we discussed. So it is an issue, we have seen recent events which point to the need for us to pay close attention to that. We have also strengthened our internal IT department as a result.”

He explained that the ECCB was taking a number of measures to enhance digital payments and cyber security in general.

“At the moment, we have established an internal working group inside of the Central Bank to look at this issue of FINTECH (Financial Technology) and the whole question of digital payments. We have in fact been already approached by certain entrepreneurs to consider certain pilot projects and we are examining that. What we’ve done is to reach out to people like the Bank of Canada which has also done a lot of research in this work to see what lessons they’ve learned and to determine how we should position the Eastern Caribbean Central Bank and the Currency Union.”

 

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