Landsbankinn and cybersecurity firm Defend Iceland have signed an agreement providing for access to the company’s bug bounty platform in order to boost and enhance Landsbankinn’s protection against cyberattacks.
The aim of Defend Iceland is to create a safer digital community. More knowledge about the existence and nature of security vulnerabilities in the systems of companies and institutions is key to achieving this goal in an environment where cyberattacks are a fast-growing concern.
Arinbjörn Ólafsson, Managing Director of IT at Landsbankinn:
“At Landsbankinn, we have a long history of emphasising cybersecurity and we welcome the initiate taken by Defend Iceland. We’re interested in the approach Defend Iceland is taking, to enhance public awareness about cybersecurity and build knowledge among cybersecurity experts. The opportunity to approach projects from a hacker’s point of view while adhering to clear rules will develop skills and deepen the understanding of cybersecurity. If they are successful, Defend Iceland will enhance cybersecurity and contribute to future welfare.”
Theódór Ragnar Gíslason, founder and CEO of Defend Iceland:
“The aim of Defend Iceland is to create a safer digital community using pro-active security measures. Organised and serious cyberattacks on NATO countries are on the rise. Society's key institutions, such as the financial sector, are of especial concern and we are gratified that the largest part of the Icelandic financial sector is now taking advantage of our technology. We are especially pleased to welcome Landsbankinn to the rapidly growing client base of Defend Iceland.”
The bug bounty platform of Defend Iceland mimics methods used by hackers and of organised groups of cybercriminals to search for vulnerabilities in IT systems in a targeted manner. This allows for fixes to be implemented before cybercriminals can take advantage of the flaws.
