G7 week

I was fortunate to participate in the G7 Cybersecurity Seminar in Tokyo in early May, ahead of the G7 leaders’ annual summit in Hiroshima, Japan. As described in the G7 Digital and Tech Ministers’ Ministerial Declaration, the G7 promotes secure, resilient, competitive, transparent, sustainable, and diverse digital, telecoms, and ICT infrastructure supply chains.

However, the increased diversification of third-party services in tech also poses a significant challenge in terms of cybersecurity. During the seminar, the G7 Cyber Expert Group discussed an update to its Third-Party Cyber Risk Management in the Financial Sector, recognizing the complexity and challenges of using a web of third-party solutions at financial institutions.

Some takeaways from the seminar include the importance of international collaboration in tackling increasingly sophisticated cyber attacks, the crucial role of transparency and information sharing (the U.S. government’s periodic intelligence briefing on cyber attacks generated a lot of interest from the audience), the challenge of attracting talent, and the need to raise awareness to promote more resilient risk management programs.

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