Cisco Systems, Microsoft and four other global organizations today announced the creation of the Coalition to Reduce Cyber Risk (CR2), aimed at encouraging governments to be more open when creating cyber risk management standards, guidelines and regulations covering the private sector.
Other members are Mastercard, AT&T, American bank JP Morgan Chase and British bank HSBC.
One of its first acts is to release a white paper called “Cybersecurity Policy for Resilient Economies: A Global, Cross-Sector Approach,” which urges governments to keep an eye open to best practices in the security industry from around the world as well as what other countries are doing.
“Governments can leverage, learn from and improve existing best practices and standards with demonstrated positive impacts rather than developing one-off and potentially fragmented untested and burdensome requirements. Moreover, public-private co-operation is critical to promoting alignment across government approaches to cyber security risk management to the greatest extent possible, recognizing that different cultural norms or government priorities will make absolute harmonization unlikely. However, aligning the…
