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Wall Street banks and other financial companies in the United States should follow new cybersecurity standards agreed upon by world leaders, the government said Tuesday.
The Federal Reserve and Treasury Department announced their support of the guidelines, which are targeted at directors of companies and senior officials in relevant agencies.
The standards, set forth by the Group of Seven industrial nations, are the latest response by policymakers around the world to the growing threat of cyberattacks on the financial system.
The G7 countries published the nonbinding guidelines in a three-page document. The G7 members are the United States, Britain, Canada, France, Germany, Italy, and Japan.
The standards are laid out in a way that allows a board member of a bank, for example, to pick up the document and make sense of how to apply the guidelines, a Treasury official said.
Read more: US promotes new cybersecurity standards for financial industry
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