Fostering a secure global ecosystem

A shared regulatory framework is vital to ensure a robust digital landscape and a secure interconnected Digital Public Infrastructure

In an increasingly interconnected world, the digital landscape has become a critical component of public infrastructure. Governments rely on digital systems for essential services, economic stability, and national security. However, as our reliance on digital technologies grows, so does the vulnerability of these systems to cyber threats. The Group of Twenty (G20) nations, a forum of the world’s major economies, has recognised the imperative for collaborative cybersecurity efforts to secure digital public infrastructure.

Digital infrastructure includes physical and digital assets, and with the proliferation of technology, these systems now encompass everything from power grids to government operations and healthcare databases. Security of these interconnected systems is paramount in the digital age, as a breach can have cascading effects across multiple sectors.

Cyber-attacks on Digital Public Infrastructure (DPI) assets, including data, cloud services, and devices, can disrupt essential services, compromise sensitive data, and undermine national security. For example, a cyberattack on a power grid could result in widespread outages, affecting everything from homes to hospitals while attacks on financial institutions could lead to economic instability. To safeguard these critical components, a shared regulatory framework is essential, ensuring a robust digital landscape.

Cross-border transactions, from online shopping to international real estate investments, already exist and are integral to the global economy. Recognising their importance, the G20 has established a framework focused on payment system interoperability, regulatory frameworks, and cross-border data exchange and message standards, enabling secure and efficient information sharing.

COLLABORATIVE APPROACH

The G20 is implementing a collaborative approach to global cyber-security by combining resources, knowledge, and expertise among member nations, ensuring a more effective response to evolving threats. It will also strengthen the resilience of digital public infrastructure by creating a supportive network, making it harder for cybercriminals to penetrate critical systems. These initiatives can contribute significantly to global stability, as a secure digital infrastructure is a fundamental foundation for stability in today’s interconnected world.

However, this joint approach to cybersecurity within the G20 also has its set of challenges such as balancing national sovereignty with the imperative of international collaboration, especially concerning sensitive information sharing and adopting global norms. Additionally, the diverse levels of cybersecurity capabilities and different stages of data privacy and security regulations among member nations pose a challenge, requiring efforts to ensure equitable participation and support, especially for countries needing more assistance.

Furthermore, the ever-evolving nature of cyber threats demands continuous adaptation from member nations, who must keep pace with the new tactics, techniques, emerging technologies, and procedures employed by malicious actors. Lastly, any international agreements on cyber norms and standards must navigate complex legal and ethical considerations, safeguarding individual rights and privacy while promoting global cybersecurity efforts.

CROSS-BORDER INFRASTRUCTURE

A comprehensive approach to enhance cybersecurity and facilitate cross-border trading and knowledge sharing within the G20 framework is now needed. Firstly, the establishment of a G20 regulatory framework on cybersecurity will set universal standards, allowing countries to subscribe to and adopt these guidelines for a globally cohesive approach. In parallel, a shared collaborative trade consortium that collectively defines data policies and guidelines may be established focussed on facilitating cross-border partnerships and supporting businesses

While the guidelines are established, it’s crucial to emphasise the need for regular audits, particularly through third-party assessments. The process can be further strengthened by introducing verifiable certification mechanisms for countries that comply with shared standards and regulations. The technology landscape is constantly changing, and with emerging technologies on the horizon, there would be a need to adapt and continuously monitor the maturity of the guidelines. Simultaneously, implementing a shared incident reporting mechanism will bolster collective security awareness, ensuring rapid responses to potential threats.

G20’s joint approach to cybersecurity has its set of challenges: balancing national sovereignty with the imperative of international collaboration

Additionally, collaborative effort to adopt and implement global standards, for instance, ISO 20022 for cross-border payments, and ISO/IEC 27017:2015 for the provision and use of cloud services, etc. are of paramount importance. By streamlining communication protocols and data exchange mechanisms, efficiency and security can be significantly enhanced.

With this, the G20 can establish a robust framework for secure cross-border transactions, promoting global collaboration and standardization for a seamless digital trading environment. The core of Digital Public Infrastructure is the well-being of citizens and data integrity, with the primary goal of fostering a trusted ecosystem for secure digital trade with other economies, ensuring non-negotiable safeguarding of personal information.

Authors- NSN Murty, Partner and Government and Public Services Consulting Leader and Yukti Sharma, a Senior Consultant at Deloitte Touche Tohmatsu India LLP

feedbackvnd@cybermedia.co.in