Progress Update on Cyber Lexicon
This note, delivered to G20 Finance Ministers and Central Bank Governors for their meeting in March 2018 in Buenos Aires, provides a progress update on the FSB’s work to develop a cyber lexicon.
G20 Finance Ministers and Central Bank Governors, in their March 2017 Baden-Baden Communiqué, noted that the malicious use of Information and Communication Technologies (ICT) could disrupt financial services crucial to both national and international financial systems, undermine security and confidence and endanger financial stability. With the aim of enhancing cross-border cooperation, the FSB was asked, as a first step, to perform a stocktake of existing relevant released regulations and supervisory practices in G20 jurisdictions, as well as of existing international guidance, including to identify effective practices. The FSB published this stocktake on cybersecurity regulations, guidance and supervisory practices on 13 October 2017.
In October 2017, G20 Finance Ministers and Central Bank Governors at their Washington DC meeting welcomed the FSB stocktake report, asked the FSB to continue its work to protect financial stability against the malicious use of ICT and noted that this work could be supported by the creation of a common lexicon of terms that are important in the work being pursued. This note provides a progress update on the FSB’s lexicon work, including a description of the objective of the work, the process for creating the lexicon and a description of next steps with an indicative timeline in order to deliver the lexicon to the November 2018 Buenos Aires G20 Summit.