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On October 11, 2016, the G7 Cyber Expert Group published a
statement on the fundamental elements of cyber security in the
financial sector. The high-level elements are intended to assist a
financial sector entity to design and implement their cyber
security strategy and operating framework as well as to guide
public authorities in developing their policies. The elements
include the establishment of a cybersecurity strategy and operating
framework, governance, risk and control assessments, monitoring,
timely and proportionate responses to a cyber incident, the
recovery of operations and remediation following a cyber security
event, sharing information and reviewing the strategy and framework
regularly to address relevant changes. The elements are not legally
binding.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
