G7 Cyber Expert Group carries out cross-border coordination exercise

The G7 Cyber Expert Group carried out a cross-border coordination exercise on 17 April 2024.

The aim of the exercise was to strengthen the ability of G7 financial authorities to effectively communicate and coordinate their respective responses to facilitate crisis management in the event of a significant cross-border cyber incident affecting the financial sector.

The exercise built on on previous simulations and workshops, which focused on cyber incident response, recovery management, and crisis communication.

The exercise simulated a a large-scale cyber attack on financial market infrastructures and entities in all G7 jurisdictions and brought together 23 financial authorities, including ministries of finance, central banks, bank supervisors, and market authorities, as well as private industry participants.

The group regularly carries out exercises to ensure they can effectively coordinate and communicate their response in the event of a widespread cyber incident.