In Luxembourg 57% of companies expect to be a victim of cyber attacks over the next two years.

Responding to this increasing need for cyber security, PwC Luxembourg and PwC's Accelerator held the first edition of PwC Cyber Security Day on 18 October. The aim was to agther together the views of international solution providers, specialised investors, international institutions, banks and large corporates on thecurrent situation in cyber space.

The event gathered a varied array of Cyber Security experts to discuss the latest trends. Laurent Probst, partner at PwC Luxembourg and Network Global Leader of PwC’s Accelerator said, “We need to reinforce the value of cooperation across borders, industries or stakeholders and our event is bringing together international actors and sector actives in a unique event for Luxembourg to review the state of the current threats but more importantly to raise the business opportunity profile of cybersecurity."

The line-up of the event boasted different profiles such as Francine Closener, Secretary of State of the Economy, Internal Security and Defence, Luca Del Monte, ESA Space Economy Manager, Francois Lavaste, Head of Cyber Security at Airbus DS and Guy-Philippe Goldstein, Senior Analyst on the Cyberdesk at Wikistrat, among others.

The event brought to light four key trends: 1) digital businesses are adopting new technologies and approaches to Cyber Security, 2) threat intelligence and information sharing have become business-critical, 3) organisations are addressing risks associated with the Internet of Things (IoT), and 4) geopolitical threats are rising.

During the event, Francine Closener, Secretary of State of the Economy, Internal Security and Defence stated Luxembourg will have a major role to play in bringing the right Cyber Security solutions being a hub. She also announced the launch of a Cyber Security Centre of Competences in 2017 in the Grand Duchy. This new venue will have the objective of integrating the expertise and the competences of the government initiatives CASES (aimed at the promotion of Cyber Security and information among companies) and CIRCL (post-incident coordination office) with the aim bringing together the private and the public sector to fight against Cyber threats, coordinated by the national platform SECURITYMADEIN.LU.