CREST publishes framework to boost financial cyber resilience

What happened

• CREST introduced a new framework that outlines coordinated cyber‑risk management for the entire financial services ecosystem.
• The guidance emphasizes shared threat intelligence, joint incident‑response planning and continuous testing of critical systems.
• It targets banks, asset managers, payment processors and other financial market participants.
• The framework is voluntary but aligns with emerging regulatory expectations for cyber‑resilience in the sector.

Why it matters

Financial firms should assess whether their current cyber‑risk programs incorporate ecosystem‑wide coordination and consider adopting the CREST recommendations to stay ahead of regulator expectations.

Business impact

Adopting the framework may require additional resources for cross‑industry information sharing and joint testing, but can reduce the likelihood of costly cyber incidents and improve regulator confidence.