Latest in Brookings Cybersecurity Project
The Trump administration’s effort to protect the security of fifth-generation, or 5G, wireless networks by limiting the deployment of Chinese technology both domestically and globally melds trade policy with cybersecurity policy. On both counts, it should not be considered sufficient.
The financial sector has long been at the forefront of cybersecurity protection, information sharing, and collaboration. Even so, cyberattacks on banks and other institutions of the global financial system have become more frequent and sophisticated, honing the industry’s ever-increasing focus on managing cyber risks.
Parallel to these efforts, the financial sector, regulators, and national governments have been working to improve the overall resilience and stability of the financial system in hope of preventing a repeat of panics such as the financial crisis a decade ago.