G20 Norms Proposal

In their March 2017 communique, the G20 Finance Ministers and Central Bank Governors warned that “The malicious use of Information and Communication Technologies could …undermine security and confidence and endanger financial stability.” That is why, the Carnegie Endowment has proposed that the G20 explicitly commit not to engage in offensive cyber operations that could undermine financial stability, namely manipulating the integrity of data of financial institutions, and to cooperate when such incidents occur. Such an agreement by the world’s leading economies would send a clear signal condemning such activity and enable future cooperation.

This website outlines the Carnegie report and proposal, reactions following its publications, as well as additional resources. The team at Carnegie’s Cyber Policy Initiative continues to work with government officials, including national security officials, financial institutions, and other experts in the next phase of this project. Feedback is welcomed and stakeholders interested in engaging with Carnegie on this issue are encouraged to contact us here.

Toward a Global Norm Against Manipulating the Integrity of Financial Data

Tim Maurer, Ariel (Eli) Levite, and George Perkovich explain why it is vital to the stability of the international system to prohibit the corruption of data in the global financial system, and to strengthen a comprehensive norm to this effect.

More on Carnegie’s Fincyber Project

To protect the financial system against cyber threats, this project by Carnegie’s Cyber Policy Initiative provides innovative research, actionable policy proposals, and regular updates on key developments for decisionmakers in government and industry as well as other stakeholders.

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