July 11, 2019

FSB launched a survey on the industry practices on cyber incident response and recovery. This survey, which closes on August 28, 2019, is a key element of the FSB outreach strategy with external stakeholders to gather views on effective practices relating to financial institutions’ response to, and recovery from, a cyber incident. The external stakeholders include financial institutions, industry groups, academics, and cyber resilience experts.

At the October 2018 Plenary meeting, FSB agreed to develop effective practices related to a financial institution’s response to, and recovery from, a cyber incident. FSB is developing a toolkit of effective practices relating to a financial institution’s response to, and recovery from, a cyber incident. The toolkit aims to provide financial institutions and authorities with a set of effective practices and will be based on the shared experience and diversity of perspectives gathered by FSB, including through responses to its survey of industry practices. The development of the toolkit will also be informed by a review of publicly available documents on how firms have responded to and recovered from past cyber incidents, a stocktake of relevant publicly released guidance issued by national authorities and international organizations, and responses to this survey on industry practices. 

 

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Keywords: International, Banking, Insurance, Securities, PMI, Cyber Risk, Cyber Resilience, Survey, Cyber Incident, FSB

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