Proposal for a common categorisation of IT incidents

Autorite de Controle Prudentiel et de Resolution, Banca d'Italia, Commissione Nazionale per le Società e la Borsa, Deutsche Bundesbank, European Central Bank, Federal Reserve Board, Financial Conduct Authority, Ministero dell'Economia e delle Finanze, Prudential Regulation Authority and U.S. Treasury

No 6, Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) from Bank of Italy, Directorate General for Markets and Payment System

Abstract: This paper presents the proposal for a common categorisation of malicious cyber incidents (cyber‑attacks) and other information technology (IT) incidents formulated by ten financial authorities that are members of the G-7 Cyber Expert Group (CEG) and that represent six of the G-7 jurisdictions. The aim of the proposal is to promote the harmonisation of the various incident reports that authorities require from financial institutions by defining common principles and developing a common taxonomy for incident reporting. The adoption of these common principles and taxonomy should make incident reporting more robust and effective by facilitating a common understanding of incidents, the sharing of information, and the joint management of IT cross-border crises.

Keywords: it incidents; cyber incidents; operational incidents; taxonomy (search for similar items in EconPapers)
JEL-codes: F50 G20 K24 L50 (search for similar items in EconPapers)
Date: 2021-05
New Economics Papers: this item is included in nep-ict, nep-law and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wpmisp:mip_006_21

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