Release of the 'G7 Cyber Expert Group: Reconnection Framework Best Practice' report
The G7 Cyber Expert Group (CEG) published a reference guide on the process of 'reconnection' to the financial system of a seconded entity following a major cyber incident that compromised its integrity: the 'G7 CEG Reconnection Framework Best Practice'.
In recent years, the growing number of cyber incidents has posed a significant challenge to organizations: deciding whether - and when - to re-establish links with another entity that was quarantined following compromised the integrity of the data and systems.
Therefore, 'reconnection' refers to the process of restoring technical access and integration with an entity that was isolated after a severe IT event. This process is generally expected to gradually recover business operations, starting with the technical reintegration of stakeholders and systems.
In this context, it is essential that the Italian financial sector, authorities and industry follow a coherent and coordinated approach to relocation.
The 'G7 CEG Reconnection Framework Best Practice' is aimed at third-party financial institutions, authorities and providers with the aim of promoting a harmonised approach at the international level by reducing fragmentation risks and ensuring greater efficiency in operations restoration processes.
The Framework consists of four key elements (purpose, principles, investigation and governance, and communication) and proposes a structured approach to the assessment, resolution, assurance and renegotiation phases.
To learn more, visit our section on cybersecurity and the page on international principles and regulation for mitigating cyber risks.