On 21.10.2020, BaFin drew attention to a publication by the Financial Stability Board (FSB) dealing with the handling of cyber incidents (Effective Practices for Cyber Incident Response and Recovery). In particular, the urgency to address this issue is seen against the backdrop of the Corona crisis. The massive increase in cyber activity of people in family and business contexts leads to a significantly increased cyber threat potential, as the level of cyber security achieved in the business environment can hardly be expected in the “home office”. It must also be mentioned here once again that cyber security is not a purely technical issue, but must also be ensured in particular by adhering to processes and proven behaviour and the associated controls. The FSB publication “Effective Practices for Cyber Incident Response and Recovery” can be downloaded as a PDF document (https://www.fsb.org/2020/10/effective-practices-for-cyber-incident-response-and-recovery-final-report/) and sees itself as a best practice toolkit.
In 7 chapters, 49 best practices are described in short texts. The chapters cover the entire lifecycle of cyber incident response and recovery, starting with governance, planning and preparation, through analysis, mitigation, restoration and communication, to coordination and communication, and finally to improvement. The best practices presented in the respective chapter will probably only be fully met by very few companies. This makes it all the more important to take a closer look at them, which is easily done with this document in a relatively short time. On the negative side, perhaps, the authors have failed to follow an already established standard, such as ISO 27000 or NIST, and instead use a new structure.
