G-7 guidance on cybersecurity in the financial sector
Posted on Jan 23, 2018 in Cybersecurity, Financial Services | Comments Off on G-7 guidance on cybersecurity in the financial sector
The G-7 countries recently published important guidance on cybersecurity for the financial sector. While the aim of this guidance was harmonization, the practical reality remains one of piecemeal- and at times even conflicting – global, regulatory direction. To navigate this regulatory patchwork, international banks and financial institutions have to constantly assess the applicable legislation and regulation, and they have to make a decisions about their level of compliance with potentially overlapping or conflicting requirements. Read this Cyber Security Practitioner cover article, which:
- Discusses the G-7 Cyber Expert Group’s 2016 “Fundamental Elements of Cybersecurity for the Financial Sector’ and its October 2017 “G-7 Fundamental Elements for Effective Assessment of Cybersecurity in the Financial Sector.”
- Outlines and compares the existing regulations for each of the G-7 countries
- Addresses the question whether further regulation is needed
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