Deloitte Upsizes Its Emerging Europe Cyber Intelligence Team

Computer security concept. Virus in program code

Professional services provider Deloitte has established a Cyber Intelligence Centre (CIC) in Budapest for managing cybersecurity in Central Europe, to counter threats targeting financial institutions and other sectors, including the automotive, manufacturing, healthcare, mining, telecommunications and entertainment industries, where incidents have ranged from extortion campaigns to business disruptions.

“Emerging risks have forced Hungarian companies to move from a reactive security model towards one based on intelligence and modern services,” said Artur Monteiro, the director of Deloitte Central Europe Cyber Intelligence Centre.

“Digital transformation, new regulations and the need to compete in a technological environment is transforming the cyber landscape, requiring organisations to commit to data privacy, to better and more secure software and to establish the necessary safeguards for their business continuity,” he added.

According to a Deloitte statement, CIC’s role is to aid local and regional businesses protecting their critical assets against known and emerging threats. This is achieved by careful monitoring threats and threat groups and through specialised anti-ecrime operations.

“Deloitte has more than 1200 cyber practitioners in the EMEA Region. Hungary alone has over 40 dedicated cyber professionals and we are continuously looking for new talent,” Mr Monteiro tells Emerging Europe.

“Moreover, our Intelligence Centre is directly backed by around 200 dedicated professionals working around the clock from our specialised centre in Madrid. Our centre in Hungary directly supports 18 countries in the region,” he says.

Most major organisations have some kind of security protocol and defence system in place, but recent events have demonstrated that they often fail to mitigate these new types of cyber risk. Both IT and fraud teams need to increase their understanding of the risks and carry out a proper assessment accordingly. Last summer, financial institutions were warned that attackers had set up sites similar to those of the major banks in the region to mislead users and collect sensitive data, Deloitte reports. Some of these sites were running attacks based on tailored modules to target a specific organization, modules which can be acquired for as little as 20 US dollars.