Wayne Caines, Minister of National Security

Updating MPs on Government’s efforts to “solidify its place globally in the innovation space”, in the area of cybersecurity, National Security Minister Wayne Caines said: “Bermuda is well on her way to being the epicentre of the global Fintech ecosystem. 

“We have also made it clear that a leading Fintech jurisdiction cannot properly lead without a strong technology education infrastructure. Bermuda has indeed secured commitments to build such an infrastructure,” he said.
“A leading Fintech jurisdiction also cannot properly lead without a robust cybersecurity posture, which underpins all efforts in the technology and innovation space.
“Bermuda, once again, is making firm strides, toward leveraging industry-leading standards,” said Mr Caines.
In keeping with the 2017 Throne Speech pledge, which included the development of a National Cybersecurity Strategy. 
“Cybersecurity is a priority for the government, because of Bermuda’s undeniable progress towards achieving its ambition in the Fintech space,” he added.
“Another reason why cybersecurity is so important is simply because the Island is home to world-leading financial and reinsurance sectors, and because its organisations are entrusted with highly valuable information.
“Safeguarding that information and the systems that hold it, securing our Critical National Infrastructure, is vital to Bermuda’s reputation as an internationally-trusted, blue chip jurisdiction. Having a robust cybersecurity strategy not only supports Fintech but is also a key component of our national strategy in Disaster Management, ensuring our position as a premier jurisdiction in risk management.
“To craft a solid cybersecurity strategy, Bermuda is working with the Commonwealth Telecommunications organisation, or “CTO.” The CTO has extensive, in-depth experience working with numerous countries, and specifically with their governments, ministries, regulatory authorities and private sector stakeholders on national cybersecurity strategies, regulatory frameworks, regulatory and operational capacity building, and much more. The CTO is a valuable partner in the exercise that Bermuda is undertaking and is adding much to the process.”
He noted that the CTO came to Bermuda in March, “to assist the Department of ICT Policy & Innovation (or “IPI”) and the Cybersecurity Working Group, in conducting consultation workshops with a number of individuals and entities, who are active in, and frequently leading the local sector of Information and Communications Technologies (or “ICT”), especially organisations considered to be an integral part of Bermuda’s Critical National Infrastructure”.
“During that phase, IPI and the stakeholders previously mentioned, proceeded to evaluate Bermuda’s current cybersecurity posture, and identify relevant gaps, challenges, and opportunities relating to cybersecurity.
“This was a critical component of the strategic planning facilitation process, which resulted in the production of a Cyber Maturity Assessment report. This report, in combination with the work of the Cybersecurity Working Group, provided the framework for the development of Bermuda’s draft cybersecurity strategy,” he said.
“After more extensive consultation efforts led by IPI and the Cybersecurity Working Group, the draft Bermuda Cybersecurity Strategy has been enhanced, to accurately reflect the special needs and aspirations of this jurisdiction. The CTO is now back on-Island to conduct a validation exercise of the key components of the Strategy.
“This week several stakeholder workshop sessions have taken place. The process has ensured that the Strategy is robust and takes into consideration the Island’s unique strengths and ambitions.
“This is not the end of the process.  Because of the primordial importance of this exercise, and because a solid cybersecurity strategy is meant to underpin the country’s strides forward, we are working to ensure that all stakeholders who wish to be involved in this Island-wide effort have their say.”
Moving forward, he said a consultation survey will be put out for public consideration. It will be available electronically and input can be provided via the survey tool, by sending an email to cybersecurity@gov.bm or physical submissions can be made to the Department of ICT Policy and Innovation.
Mr Caines noted that the draft strategy will then be finalised as it takes into consideration the input received. 
In closing, he said: “Cybersecurity is an imperative for our jurisdictional reputation and well-being. We are committed to deliver a comprehensive plan which addresses the risks in this connected world.”