The G7 Cyber Expert Group recently completed a cross-border coordination exercise to ensure effective communication and response in the event of a cyber incident impacting the financial system. This exercise aimed to strengthen the ability of G7 financial authorities to coordinate their responses during a crisis, focusing on incident response, recovery management, and crisis communication.
The exercise simulated a large-scale cyber attack on financial market infrastructures and entities across all G7 jurisdictions, involving 23 financial authorities and private industry participants. By conducting these exercises, the G7 Cyber Expert Group aims to enhance the financial sector’s resilience and minimize disruptions in the face of cyber threats.
In an interconnected world, cross-border coordination and incident response preparedness are key priorities for the G7. The group continues to collaborate on cybersecurity and remains vigilant in responding to cyber threats targeting the financial system.
The G7 Cyber Expert Group plays a crucial role in coordinating cybersecurity policies and strategies across G7 jurisdictions. Through various publications, such as the G7 Fundamental Elements of Ransomware Resilience for the Financial Sector, the group aims to improve cyber resiliency in the financial sector and mitigate risks associated with cyber threats. More information about the group and its publications can be found on the G7 Cyber Expert Group website.