FSB Issues ‘Effective Practices’ to Help Banks with Cyber Response, Recovery

10/28/20

The Financial Stability Board has issued a toolkit of 49 cyber incident response and recovery practices specifically designed for financial institutions. Released after a public consultation earlier this year, these practices are organized into seven categories: governance; planning and preparation; analysis; mitigation; restoration and recovery; coordination and communication; and improvement. The toolkit is designed as a range of effective practices that any organization can choose from, based on its size, complexity and risks.”