Eastern Caribbean Central Bank (ECCB) Governor Timothy N. J. Antoine used remarks to the 30th Annual Conference of Regional Central Banks’ Information Systems Specialists to frame cybersecurity as one of the top concerns for central bank governors and to call on IT teams to prioritise core controls, incident preparedness and cross-border collaboration, including on digital transformation and AI safety and security. He cited Cybersecurity Ventures estimates that global cybercrime costs rose from USD 3.0 trillion in 2014 to USD 9.5 trillion in 2024 and are expected to exceed USD 10.5 trillion in 2025, including losses from stolen data, financial theft, reputational risk, regulatory fines and business disruption. The “basics” were described as protecting critical infrastructure such as central bank data warehouses, payment systems and reserves management systems, strengthening day-to-day cyber hygiene, and preparing for cyberattacks and climate-related events that could render systems inoperable; he also highlighted digital manipulation as a major AI-related threat and linked IT resilience directly to central bank trust. The conference ran from 4 to 6 June at the ECCB Campus under the theme “Beyond Borders: Collaboration, Innovation and Resilience in Central Banking IT,” with participants from the ECCB and central banks including Aruba, Bahamas, Barbados, Belize, Curaçao, Haiti, Jamaica, Suriname, and Trinidad and Tobago.
Eastern Caribbean Central Bank 2025-06-06
Eastern Caribbean Central Bank governor urges tighter cyber hygiene and stronger AI security focus at regional central bank IT conference
Eastern Caribbean Central Bank Governor Timothy N. J. Antoine stressed cybersecurity as a top concern at the 30th Annual Conference of Regional Central Banks’ Information Systems Specialists. He urged IT teams to focus on core controls, incident preparedness, and cross-border collaboration, highlighting rising global cybercrime costs and the need to protect critical infrastructure. The conference, themed “Beyond Borders: Collaboration, Innovation and Resilience in Central Banking IT,” included participants from various regional central banks.