The financial sector must quickly become better at preventing and managing cyber threats, states the Swedish Financial Supervisory Authority in a report to the government.

One of the proposals is to put the bank ID under more state control.

- When it becomes so large and dominant, then it also becomes a critical security issue and we have to think through how we control this, and perhaps think about the idea that it should be state-owned, says Finansinspektionen's director general Erik Thedéen.

Bank ID: No more supervision

Bank ID, which is owned by banks, has more than 90 percent of the online identification market.

In addition, there are other private alternatives such as Freja eID and a couple of other smaller players.

Bank-id's CEO Johan Eriksson does not mind more state supervision.

But wouldn't the proposal to have a state competitor risk breaking the bank ID?

- We hope that the last 20 years have shown that it has been both effective and successful with a collaboration between the public and private sectors.

FI wants to speed up the cyber security center

Finansinspektionen also thinks that the work of building up the national cyber security center NCSC should be accelerated.

It is a collaboration between the Swedish Armed Forces, FRA, MSB and Säpo, which will also include the police, PTS and FMV.

The center is expected to be completed in 2025.

- We are recruiting and building the organization now.

But I think it is possible to be fully developed by 2023, says the head of the national cyber security center, Therese Naess.

How good is Swedish cyber security overall?

- The awareness that today we need to budget for cyber protection must increase.

In some cases, you are painfully unaware of how much money it costs to protect yourself.

The expert: IT systems are vulnerable

Professor Pontus Johnson, who is the director of the Center for Cyber ​​Defense and Information Security at KTH, warns that our IT systems are vulnerable.

- The systems are so complicated that developers and administrators regularly make mistakes, and a worryingly large proportion of these bugs lead to very serious - often catastrophic - vulnerabilities.