The views expressed are the personal views of the presenter and do not reflect those of the PCAOB, members of the Board, or the PCAOB staff.

Transcription

1 The views expressed are the personal views of the presenter and do not reflect those of the PCAOB, members of the Board, or the PCAOB staff.

2 C A R N E G I E E N D O W M E N T F O R I N T E R N A T I O N A L P E A C E P R O T E C T I N G F I N A N C I A L S T A B I L I T Y A G A I N S T C Y B E R T H R E A T S

3 2016: THE WAKE-UP CALL FOR THE GLOBAL FINANCIAL SYSTEM

4 CPMI-IOSCO report on cyber resilience G7 Fundamental Elements G20 Communique IMF working paper FSB stocktake IMF working paper FSB Lexicon G7 reports US NIST Framework EU NIS Directive China Internet Security Law

5 CARNEGIE PROPOSAL: AN INTERNATIONAL AGREEMENT TO PROTECT THE INTEGRITY AND AVAILABILITY OF DATA OF THE GLOBAL FINANCIAL SYSTEM

6 WHO ARE WE?

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9 POLICY IMPACT G20

10 WHY THE FOCUS ON THE FINANCIAL SYSTEM? - GLOBAL INTERDEPENDENCE - TRUST IN THE SYSTEM IS PARAMOUNT - UNEXPECTED SOURCES OF CONTAGION ---> DIFFERENT FROM MOST OTHER CRITICAL INFRASTRUCTURE

11 Agreement not to put integrity of financial system at risk THE VISION Agreement to cooperate, upon request, when incidents occur

12 ISO STANDARD INFORMATION SECURITY : PRESERVATION OF C O N F I D E N T I A L I T Y, I N T E G R I T Y, A N D A V A I L A B I L I T Y OF INFORMATION

13 NORM INCUBATOR: G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS

14 PRECEDENT: XI/OBAMA 2015 AGREEMENT

15 PRECEDENT: G AGREEMENT

16 OBJECTIVES: - SEND A CLEAR SIGNAL THAT THE GLOBAL FINANCIAL SYSTEM IS OFF LIMITS - BUILD GREATER CONFIDENCE AMONG STATES - CREATE FOUNDATION TO ADDRESS POTENTIAL VIOLATIONS - ENGABLE GREATER COOPERATION TO TACKLE CRIMINAL ACTORS - COMPLEMENT EXISTING EFFORTS FOCUSING ON RESILIENCE - PAVE THE WAY FOR BROADER INTERNATIONAL COOPERATION

17 FIRST MILESTONE: G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING MARCH 2017

18 COMMUNIQUE G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING BADEN-BADEN, GERMANY, MARCH 2017 The malicious use of Information and Communication Technologies (ICT) could disrupt financial services crucial to both national and international financial systems, undermine security and confidence and endanger financial stability. We will promote the resilience of financial services and institutions in G20 jurisdictions against the malicious use of ICT, including from countries outside the G20. With the aim of enhancing our cross-border cooperation, we ask the FSB [= Financial Stability Board not Russian intelligence service], as a first step, to perform a stock-taking of existing relevant released regulations and supervisory practices in our jurisdictions, as well as existing international guidance to identify effective practices. The FSB should inform about the progress of this work by the Leaders Summit in July 2017 and deliver a stock-take report by October 2017.

19 PUBLICATION

20 REACTIONS

21 WHY AM I HERE? TMAURER@CEIP.ORG

22 CAPACITY-BUILDING: BEST PRACTICES GUIDE FOR SMALLER FINANCIAL INSTITUTIONS CEO-Level Guide CISO-Level Guide for Protecting the Institution CISO-Level Guide for Protecting Customers CISO-Level Guide for Protecting Third Parties Incident Response Guide

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