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National Depository Strengthens Information Security and Stability System with Support from USAID Print
Thursday, 31 August 2023 11:39

Kyiv, Ukraine (31 August 2023) – The National Depository of Ukraine (NDU) and the USAID Financial SectorReform Activity (FSR) partnered to strengthen the NDU’s information security, to respond to modern cyberthreats and to protect investor records.

The National Depository, with the support of USAID, has already begun implementing the Privileged AccessManagement (PAM) system, a software tool for monitoring the activity of privileged users and controllingaccess to critical systems and data. The goal of PAM implementation is to mitigate information security risksfor the NDU and Ukraine's depository system as a whole.

“The Commission welcomes the start of cooperation between the USAID Financial Sector Reform Activity andthe National Depository of Ukraine. Information security is one of the priorities for the regulator. The relevanttechnical assistance will strengthen the institutional capacity of the entire depository system of Ukraine, whichhas more than 300 thousand active clients – securities investors,” said Ruslan Magomedov, Chairman of theNational Securities and Stock Market Commission.

“One of the key factors for the stable operation of Ukraine’s capital market is confidence in the integrity of datain the depository system, especially that the records are safe and secure from unauthorized access ordestruction. We are pleased to assist the National Depository to purchase and implement the PAM system toenhance information security,” said Robert Bond, Chief of Party, USAID Financial Sector Reform Activity.

According to Alexei Tarasenko, a member of the National Depository's Management Board, the assistanceprovided by the USAID Financial Sector Reform Activity will support the integrity of the NDU’s informationsystems. “PAM will add an additional layer of protection for securities issuers, and certainly for securitiesinvestors. With the onset of the war, we are working to strengthen the stability of our information securitysystems.”

USAID is the world's premier international development agency and a catalytic actor driving developmentresults. USAID has partnered with Ukraine since 1992. For additional information about USAID in Ukraine,please visit its website: http://www.usaid.gov/ukraine or its Facebook page at:https://www.facebook.com/USAIDUkraine 

About USAID Financial Sector Reform Activity
The USAID Financial Sector Reform Activity is a five-year program to support the creation of a modern,efficient, and transparent financial sector aligned with European and international markets. The main areas offocus are improving financial market regulation and supervision; strengthening financial infrastructure;deepening private sector financial intermediation and expanding private finance; and enhancing transparencyand communications about financial sector reform. For more information about the USAID Financial Sector Reform Activity and its activities, please visit http://www.fsr-ua.info/en/ and/or:https://www.facebook.com/FSRproject

About National Depository of Ukraine
The National Depository of Ukraine keeps depository record of all issue-grade securities in Ukraine inaccordance with the relevant laws. It was founded in 1998 and has had the Central Securities Depositorystatus since 2013.
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