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
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    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.

    Home > Headlines > 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

    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 Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Image for French justice opens Epstein-linked probe against former culture minister
    French justice opens Epstein-linked probe against former culture minister
    Image for If US attacks, Iran says it will strike US bases in the region
    If US attacks, Iran says it will strike US bases in the region
    Image for Suspected arson hits Italian rail network near Bologna, police say
    Suspected arson hits Italian rail network near Bologna, police say
    Image for Olympics-Protesters to rally in Milan denouncing impact of Winter Games
    Olympics-Protesters to rally in Milan denouncing impact of Winter Games
    Image for Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Image for US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    Image for Russia to interrogate two suspects over attempted killing of general, report says
    Russia to interrogate two suspects over attempted killing of general, report says
    Image for Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Image for Ukraine backs Pope's call for Olympic truce in war with Russia
    Ukraine backs Pope's call for Olympic truce in war with Russia
    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    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