Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Headlines
    3. >Industry groups urge quick adoption of EU cybersecurity label that favours Big Tech
    Headlines

    Industry Groups Urge Quick Adoption of EU Cybersecurity Label That Favours Big Tech

    Published by Global Banking & Finance Review®

    Posted on February 28, 2025

    2 min read

    Last updated: January 25, 2026

    Add as preferred source on Google
    Industry groups urge quick adoption of EU cybersecurity label that favours Big Tech - Headlines news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:cybersecurityEuropean Commissioncloud computingtechnologyfinancial services

    Quick Summary

    Industry groups urge the EU to adopt a cybersecurity label favoring Big Tech, amidst potential delays.

    Industry Groups Push for Quick EU Cybersecurity Label Adoption

    By Foo Yun Chee

    BRUSSELS (Reuters) - Twenty-three industry groups across Europe have urged EU tech chief Henna Virkkunnen to adopt a draft cybersecurity certification scheme (EUCS) for cloud services that was tweaked last year in favour of Amazon, Alphabet's Google and Microsoft.

    The call came amid signs that the European Commission may delay adopting or even scrap the proposal, which has gone through several changes since it was unveiled by EU cybersecurity agency ENISA in 2020.

    The labelling scheme aims to help governments and companies pick a secure and trusted vendor for their cloud computing needs. The global cloud computing industry generates billions of euros in yearly revenue.

    "We would like to respectfully urge your support for the swift adoption of the European Cybersecurity Certification Scheme for Cloud Services," the groups said in a joint letter dated February 11 to Virkkunnen seen by Reuters.

    They said the March 2024 draft "made good progress in balancing between robust security standards and the inclusive, open-market principles that are critical for the growth and resilience of Europe's digital economy".

    The groups said the 2024 changes - which included scrapping provisions requiring U.S. tech giants to set up a joint venture or cooperate with an EU-based company to store customer data in the bloc in exchange for the highest level of the cybersecurity label - allow the scheme to focus on technical criteria rather than political ones.

    Signatories to the letter include Allied for StartUps, the American Chamber of Commerce in Estonia, Finland, Italy, Romania and Spain, the Association of German Banks, Germany's Association of the Internet Industry and Italian startup group InnovUp.

    The Irish Business and Employers Confederation, Dutch group Nederland Digitaal and Portugal's Association for the Promotion and Development of the Information Society also signed the letter.

    The Commission confirmed receipt of the letter and said it would reply in due course.

    (Reporting by Foo Yun Chee; Editing by Kirsten Donovan)

    Key Takeaways

    • •23 industry groups urge EU to adopt cybersecurity label.
    • •Label favors Amazon, Google, and Microsoft.
    • •Proposal may face delays or be scrapped by the EU.
    • •Scheme focuses on technical criteria over political ones.
    • •Signatories include major European and American organizations.

    Frequently Asked Questions about Industry groups urge quick adoption of EU cybersecurity label that favours Big Tech

    1What is the main topic?

    The article discusses the push for the adoption of an EU cybersecurity label for cloud services.

    2Why is the EU cybersecurity label important?

    It helps governments and companies choose secure cloud vendors, impacting the digital economy.

    3Who are the key players involved?

    Amazon, Google, Microsoft, and various European and American industry groups.

    More from Headlines

    Explore more articles in the Headlines category

    Image for Denmark's Frederiksen faces tough coalition talks to remain prime minister
    Denmark's Frederiksen Faces Tough Coalition Talks to Remain Prime Minister
    Image for UK police arrest two men over arson attack on Jewish community ambulances
    UK Police Arrest Two Men Over Arson Attack on Jewish Community Ambulances
    Image for Cricket-Bairstow joins Livingstone in criticising level of care in England set-up
    Cricket-Bairstow Joins Livingstone in Criticising Level of Care in England Set-Up
    Image for Mullally to be installed as first female Archbishop of Canterbury
    Mullally to Be Installed as First Female Archbishop of Canterbury
    Image for Cyprus seeks new security deal for UK bases, Telegraph reports
    Cyprus Seeks New Security Deal for UK Bases, Telegraph Reports
    Image for British army veteran completes record 100km Land Rover pull
    British Army Veteran Completes Record 100km Land Rover Pull
    Image for Pope Leo laments that Iran war 'getting worse and worse'
    Pope Leo Laments That Iran War 'getting Worse and Worse'
    Image for Denmark's left-wing bloc leads election but lacks majority, exit polls show
    Denmark's Left-Wing Bloc Leads Election but Lacks Majority, Exit Polls Show
    Image for Moldovan parliament backs energy state of emergency after power line put out of action
    Moldovan Parliament Backs Energy State of Emergency After Power Line Put Out of Action
    Image for US expected to send thousands more soldiers to Middle East, sources say
    US Expected to Send Thousands More Soldiers to Middle East, Sources Say
    Image for Brazil court places Bolsonaro under house arrest on health grounds
    Brazil Court Places Bolsonaro Under House Arrest on Health Grounds
    Image for Analysis-Gulf warnings and fears of miscalculation preceded Trump’s pause in Iran showdown
    Analysis-Gulf Warnings and Fears of Miscalculation Preceded Trump’s Pause in Iran Showdown
    View All Headlines Posts
    Previous Headlines Post'Ball in Turkish Government's Court' After Ocalan Peace Call, pro-Kurdish Party Says
    Next Headlines PostIsrael and Hamas Diverge Over Ceasefire With First Phase Set to Expire