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Financial Services Get Shared Lexicon To Fight Cyberattacks

Law360, London (November 12, 2018, 12:15 PM GMT) -- A forum of central bankers announced on Monday that it has published a common vocabulary of cyber terms to help the global financial services sector boost cross-border cooperation on security by cracking down on the growing threat of online crime.

The Financial Stability Board’s finalized cyber lexicon consists of 50 “core terms” that it hopes will define cyber security in the financial sector. The list will support work by the board, national regulators and banks and other financial firms as they seek to ensure the sector is resilient against cyberattack, the FSB said.

The lexicon will ensure that regulators have a common...

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