Norway proposes to implement a framework for testing cyber resilience of its financial institutions

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The Central Bank of Norway (Norges Bank) and the Financial Supervisory Authority of Norway (Finanstilsynet) have proposed to develop a framework to test the cyber resilience of the Norwegian banking and payment system (Framework).

The Framework, according to Norges Bank and Finanstilsynet, will build on the TIBER-EU framework designed by the European Central Bank. The financial industry and other relevant stakeholders are expected to be consulted as the process evolves. 

The TIBER-EU framework, developed by the European Central Bank, is a set of guidelines for testing financial institutions’ detection, prevention and response capabilities with regard to advanced cyber attacks. 

The regulators are confident that the Framework will assist to strengthen the cyber resilience of the Norwegian financial sector and promote the country’s financial stability.

Additional details are available here.

Photo Credit: Pixabay

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