As pursuing digital transformation could help reduce the barriers to financial inclusion, spur innovation and promote competition in the financial sector, the financial consumers are also exposed to cyberthreats which could undermine the public’s trust and confidence in the safety of digital financial transactions.
In addition, with Cyprus and Malta joining the EU in May 2004, and in view of Turkey’s status as a candidate country – with a decision by the EU Heads of State or Government on the opening of accession negotiations expected in  BIS Review 4/2004  1  December this year – links with the EU’s Mediterranean neighbours have become more important.