Finland, US deepen cooperation on cyber security

Finland and United States have signed a Memorandum of Understanding (MoU) with the view to facilitate exchange of information on cybersecurity between the Finnish Ministry of Finance and the US Treasury Department.

The representatives of the Finnish Ministry of Finance and the US Treasury Department signed the MoU on Wednesday, said the Ministry of Finance in a press release on Friday. The document is not legally binding.

“The Memorandum of Understanding will strengthen our capacity to manage crises in the financial markets. It is important for us to be able to prepare for potential incidents in advance in cooperation with authorities from different countries,” said Permanent Under-Secretary Leena Mörttinen.

The MoU intends to establish practices for sharing information about cybersecurity threats and incidents, cyber threat actors and various best practices.

The guiding principles for the sharing of information under the MoU are voluntariness, timeliness, anonymity and confidentiality.

The MoU encourages the parties to carry out visits, exchange views and conduct exercises and training.