In recent years, the overall threat landscape facing Denmark has become more severe. Denmark is a highly digitalised society, and the financial sector faces a range of threats, including cyberattacks and hybrid incidents. This requires a strong focus on resilience and enhanced preparedness, Ulrik Nødgaard explained.
Among other points, Ulrik Nødgaard highlighted that Dankort and instant payments contribute to resilience in the payments ecosystem, as one solution can be used if the other fails. In addition, the Danish Payments Council has worked to ensure that offline card payments can be made with all cards issued under Dankort, Mastercard and Visa in supermarkets and pharmacies.
Danmarks Nationalbank recommends contingency measures for critical functions
The financial sector plays a vital role in society. To ensure that the sector’s critical functions can continue even during a prolonged outage, Danmarks Nationalbank recommends establishing contingency measures capable of handling severe and long-lasting disruptions.
The objective is to create a safety net that enables households and businesses to continue receiving salaries, paying bills and accessing their accounts, even in situations where a key financial sector participant is unavailable for an extended period.
Danmarks Nationalbank’s recommendations are broad in scope and cover both the owners of payment solutions and financial infrastructure, as well as banks. Work to strengthen contingency measures is already underway. For banks, the focus is on identifying and prioritising the most critical activities to ensure business continuity during a prolonged outage. This work can be built upon to ensure that the most socially critical customer-facing activities remain operational even during severe incidents, Ulrik Nødgaard explained.
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