The G7 Cyber Expert Group completed a cross-border coordination exercise on 17 April 2024. G7 authorities routinely exercise to ensure they can effectively coordinate and communicate their response in the event of a widespread cyber incident affecting the financial system.
The primary objective of the exercise was to strengthen the ability of G7 financial authorities in effectively communicating and coordinating their respective responses to facilitate crisis management in the event of a significant cross-border cyber incident affecting the financial sector. The exercise built on previous simulations and workshops, which focused on cyber incident response, recovery management, and crisis communication.
To optimize coordination among G7 financial authorities, the exercise assumed a large-scale cyber attack on financial market infrastructures and entities in all G7 jurisdictions. The exercise brought together 23 financial authorities, including ministries of finance, central banks, bank supervisors, and market authorities, as well as private industry participants.
By conducting such exercises, the G7 Cyber Expert Group aims to bolster the financial sector’s resilience and minimise…
