The Coalition to Reduce Cyber Risk (CR2) announced this week that it has been joined by 37 organizations across eight countries in signing a pledge to improve cyber resilience and combat threats such as ransomware.
This shows, CR2 notes, that organizations are aware of the importance of collaboration in countering evolving threats and in implementing risk-based cybersecurity globally.
By signing the pledge, these organizations show their commitment to drive the development and implementation of risk-based approaches based on widely accepted standards and to support small businesses in adopting risk-based cybersecurity.
Additionally, they pledged to improve cybersecurity standards and incorporate them in policies and controls, and to periodically perform assessments of these policies and controls, to ensure they continue to be standard-compliant.
“Internationally recognized cybersecurity frameworks and standards that are based upon the principles of risk management and relevant across sectors support such implementation by strengthening consistency and continuity among interconnected sectors and throughout global supply chains,” CR2 notes.
The adoption of these standards among companies and government agencies worldwide is expected to not only mitigate cyber risks, but to also facilitate economic growth.
“A commitment to internationally recognized cyber risk management approaches and frameworks that are relevant across sectors can bring widespread economic benefits, help governments achieve their policy goals, bolster collective security, and enhance cyber resiliency across the ecosystem,” CR2 says.
Some of the signatories include AT&T, AWS, Cisco, Citrix, Cybereason, IBM, JP Morgan Chase, Microsoft, NetScout, Palo Alto Networks, Red Hat, SAP, Schneider Electric, Trellix, Verizon, SA | The Software Alliance, Coalition of Service Industries (CSI), Cyber Risk Institute, Health-ISAC, Information Technology Industry (ITI), the US Chamber of Commerce, and the US Council for International Business (USCIB).
“Governments should embed widely used international standards at the core of their national cyber policies to facilitate a seamless approach to shared cyber risk,” CR2 president and J.P. Morgan Chase executive director Benjamin Flatgard said.
Related: Researchers Devise Attack Using IoT and IT to Deliver Ransomware Against OT
Related: It Doesn’t Pay to Pay: Study Finds Eighty Percent of Ransomware Victims Attacked Again