Luxembourg to Subsidise Cybersecurity Tools Amid Surge in Online Attacks

Luxembourg is stepping up its defences against cybercrime. Finance Minister Gilles Roth announced this week that the government will subsidise cybersecurity tools for the public, following a recent wave of online attacks and fraud cases that left several residents facing financial losses.

Cybersecurity as National Defence
Speaking after a meeting of the Parliamentary Finance Committee on Monday, Roth said the incidents highlighted the urgent need to strengthen protection for individuals and businesses alike. He stressed that cybersecurity is not just a matter of financial stability but also of national defence.

“Cyberattacks should be treated as attacks on NATO itself,” Roth declared, underlining that Luxembourg’s financial hub — one of Europe’s most important — cannot afford to appear vulnerable. He promised to unveil concrete “action plans” in the coming months.
Among the first steps will be reinforcing the Financial Intelligence Unit of the public prosecutor’s office, part of a broader strategy to improve national resilience against cyber threats.

Protecting Residents and the Financial Centre
The minister argued that government subsidies for security tools, such as anti-fraud systems and digital protection measures, would help guarantee a higher national level of cybersecurity. “The state should not hesitate to provide direct support,” he said, linking stronger defences to Luxembourg’s international reputation as a secure and reliable financial centre.

Banking Access Also on the Agenda
Alongside cybersecurity, Roth addressed another long-running concern: the difficulty companies often face in opening a bank account in Luxembourg. Despite reforms, many firms continue to complain about restrictive procedures.

Roth suggested a system inspired by France, where rejected applications can be reviewed by the central bank. In Luxembourg, he proposed that public institutions such as Spuerkeess or POST Group could step in to ensure companies and individuals have access to at least one account.
However, he emphasised that any changes must not compromise financial oversight. “Access must not come at the expense of strict controls and security rules,” he cautioned.

A Balancing Act
The dual focus on cybersecurity and banking access reflects Luxembourg’s ongoing challenge: defending itself against digital threats while maintaining the trust and competitiveness of its financial centre. With cyberattacks growing in frequency and sophistication, Roth’s announcement marks a clear signal that Luxembourg intends to strengthen its digital defences at both the national and individual levels.
Ministry of Finance - The Luxembourg Government

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