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Safe Bank

Published: 2022-07-12

Legal status of supervision over cybersecurity of the financial market in Poland

Bartosz Biderman Logo ORCID , Kamil Mroczka Logo ORCID
Section: Problems and Opinions
https://doi.org/10.26354/bb.3.2.87.2022

Abstract

The essential purpose of the paper is to analyse the legal conditions determining the system of cybersecurity of the financial market in Poland. The authors have performed a dogmatical legal analysis of provisions of the Polish and, partly, EU legislation and then discussed the implementation of the provisions in the financial sector. The analysis covers the role and position of the KNF Board as an authority competent for cybersecurity for the banking sector and the infrastructure of financial markets. The paper also presents a catalogue of the institution’s tasks and activities that have been undertaken to perform the tasks properly. The paper includes an in-depth analysis of recommendations and guidelines adopted by the KNF Board in the area of cybersecurity, and points their specific legal nature. The paper also explores the process of establishing the CSIRT KNF team and discusses its special role in building cyber resilience of the Polish cybersecurity system. Special emphasis is placed on the important role of financial education, in particular the need to run awareness-raising and educational campaigns regarding cybersecurity. The conclusions include the authors’ free thoughts on the further development of cyber threats and a presentation of ideas on how to prevent them.

JEL Codes

G32, L88, M15, F52

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Citation rules

Biderman, B., & Mroczka, K. (2022). Legal status of supervision over cybersecurity of the financial market in Poland. Safe Bank, 87(2), 47–71. https://doi.org/10.26354/bb.3.2.87.2022

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Vol. 87 No. 2 (2022)
Published: 2022-07-12


ISSN: 1429-2939
eISSN: 2544-7068
Ikona DOI 10.26354

Publisher
Bankowy Fundusz Gwarancyjny

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