On March 15th, the U.S. Department of the Treasury announced that it has signed a cyber security cooperation memorandum of understanding with Finland. The Memorandum of Understanding (MoU) will facilitate exchange of information on cybersecurity between the Finnish Ministry of Finance and the Treasury Department.
“Effective information sharing is critical to building operational resilience. This partnership will help Treasury protect the financial sector from emerging threats while reinforcing our ability to coordinate incident response with our allies abroad,” said Todd Conklin, Deputy Assistant Secretary for Cybersecurity and Critical Infrastructure Protection.
The representatives of the Finnish Ministry of Finance and the US Treasury Department signed the MoU on March 13, 2024. The document is not legally binding.
The MoU establishes practices for sharing information about cybersecurity threats and incidents, cyber threat actors and various best practices, and is guided by the principles of voluntariness, timeliness, anonymity, and confidentiality. It also encourages parties to carry out visits, exchange views, and conduct exercises and training.
