Protecting Financial Stability against Cyber Threats: Proposal for an International Agreement

Wednesday, January 17, 2018 - 4:30 pm5:00 pm

Tim Maurer, Co-director, Cyber Policy Initiative, Carnegie Endowment for International Peace


In their March 2017 communique, the G20 Finance Ministers and Central Bank Governors warned that “The malicious use of Information and Communication Technologies could…undermine security and confidence and endanger financial stability.” That is why, the Carnegie Endowment has proposed that the G20 explicitly commit not to engage in offensive cyber operations that could undermine financial stability, namely manipulating the integrity of data of financial institutions or undermining the availability of critical systems, and to cooperate when such incidents occur. Such an agreement by the world’s leading economies would send a clear signal condemning such activity and enable future cooperation. The G20 has been discussing such a commitment by its member states, which, if adopted, will require the collaboration between governments, financial institutions, and technical experts to be effective.

Tim Maurer, Co-director, Cyber Policy Initiative, Carnegie Endowment for International Peace

Tim Maurer is the Co-director of the Cyber Policy Initiative at the Carnegie Endowment for International Peace. His work focuses on the Internet and international affairs, namely cybersecurity, human rights online, and Internet governance, currently with a specific focus on cybersecurity and financial stability. He is a member of several U.S. track 1.5 cyber dialogues and the research advisory group of the Global Commission on the Stability of Cyberspace. Previously, he was part of the Freedom Online Coalition’s working group “An Internet Free and Secure” and the Research Advisory Network of the Global Commission on Internet Governance. He co-chaired the Advisory Board of the Global Conference on CyberSpace in The Hague and supported the OSCE’s cyber confidence-building efforts by developing the Global Cyber Definitions Database for the chair of the OSCE. His work has been published by Slate, Lawfare, Just Security, Jane’s Intelligence Review, TIME, Foreign Policy, CNN, and other academic and media venues. Prior to joining Carnegie, Maurer was the director of the Global Cybersecurity Norms and Resilience Project at New America and head of research of New America’s Cybersecurity Initiative. He also spent several years focusing on humanitarian assistance and the coordination of the UN system gaining experience with the United Nations in Rwanda, Geneva, and New York. He holds a MPP from the Harvard Kennedy School. Cambridge University Press will publish his forthcoming Cyber Mercenaries—The State, Hackers, and Power in January 2018.

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@inproceedings {208149,
author = {Tim Maurer},
title = {Protecting Financial Stability against Cyber Threats: Proposal for an International Agreement},
booktitle = {Enigma 2018 (Enigma 2018)},
year = {2018},
address = {Santa Clara, CA},
url = {},
publisher = {USENIX Association},
month = jan

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