GLOBAL COMPANIES LAUNCH THE COALITION TO REDUCE CYBER RISK (CR²)

GLOBAL COMPANIES LAUNCH THE COALITION TO REDUCE CYBER RISK (CR²)

AT&T, Cisco, HSBC, JPMorgan Chase, Mastercard and Microsoft Launch Coalition to Advance Cybersecurity Across Sectors and Around the World

WAKEFIELD, Mass., USA – March 27, 2018 – Six leading global organizations have joined together to launch The Coalition to Reduce Cyber Risk, Inc. (CR²). CR² members, including AT&T, Cisco, HSBC, JPMorgan Chase, Mastercard and Microsoft will partner with each other and governments to advance cyber risk management to strengthen the resilience of economies and infrastructure around the world.

“In today’s global, interdependent economy, improving cybersecurity requires organizations to work not only within their enterprise but also with partners, customers, and governments,” said Tom Burt, corporate vice president, Customer Security and Trust, Microsoft.  “CR² will bring these stakeholders together to advance security while also enabling the tremendous economic and societal benefits of digital transformation.”

Based on the collective expertise and experience of its cross-sector members, the coalition will seek to foster collaboration and align global cybersecurity policies based on industry best practices and globally recognized frameworks and standards.  Download CR²’s white paper: “Cybersecurity Policy for Resilient Economies: A Global, Cross-Sector Approach.”

“HSBC is pleased to join with prominent institutions across industry to support the global economy in being resilient against cyber threats,” said Philip Eagle, global head, Information Security Risk, HSBC. “It is important for industry to work closely with regulators to strengthen and harmonize our regulations to better protect our customers in the United States and abroad.”

About the Coalition to Reduce Cyber Risk, Inc. (CR²)

The Coalition to Reduce Cyber Risk, Inc. (CR²) represents global organizations from diverse sectors, including financial services, information technology and telecommunications. Member organizations have expertise in cybersecurity and enterprise risk management and support policy approaches that will advance security and promote economic opportunity by reflecting best practices and aligning across industry sectors and geographies.  For more information about the coalition’s mission and how to join, visit www.crx2.org.

Coalition to Reduce Cyber Risk, Inc. Supporting Member Statements

Cisco

Eric Wenger, Director, Cybersecurity & Privacy Policy

“Cisco is proud to help found CR²—a multisector, multinational industry-led effort to improve cybersecurity.  We look forward to working with our private-sector partners and governments to advance standards-based, compatible frameworks for more effective cyber risk management.”

JPMorgan Chase

Greg Rattray, Managing Director

“JPMorgan Chase is excited to partner with industry leaders across critical sectors to support pursuit of greater regulatory coordination on cybersecurity and technology issues. This Coalition will serve as a platform to effect real change and enable businesses to modernize and digitize safely and efficiently.”

Mastercard

Alex Niejelow, Senior Vice President, Cybersecurity Coordination and Advocacy

“Threats to cybersecurity evolve so quickly that we can no longer afford to address them company by company, sector by sector, and nation by nation.  By using our collective resources and building upon our expertise as a diverse, cross-sector coalition, we can advance cybersecurity risk management, promote shared economic opportunity and innovation, and improve oversight and public policy objectives.”

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2018-03-27T15:16:11+00:00