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ARTICLE · 25 OCTOBER 2017

G-7 Countries Publish Report On Cybersecurity Fundamentals

Hogan Lovells Cadwalader
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Finance ministers and central bank governors for the G-7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) published a report, titled G-7 Fundamental Elements for Effective Assessment of Cybersecurity in the Financial Sector (the "Report").

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Finance ministers and central bank governors for the G-7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) published a report, titled G-7 Fundamental Elements for Effective Assessment of Cybersecurity in the Financial Sector (the "Report"). The Report is a follow-up on a publication titled G-7 Fundamental Elements of Cybersecurity for the Financial Sector (the "2016 Report"), published in October 2016. While recommendations in the Report are not binding regulatory requirements, the Report does provide a clear view of G-7 expectations for effective cybersecurity assessments.

The G-7 members outlined the following criteria for entities to consider when conducting cybersecurity assessments:

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