Question to the HM Treasury:

To ask His Majesty's Government, following the UK-India investment agreements announced on 9 October, what cybersecurity policies are in place to protect cross-border digital financial transactions and financial technology cooperation between the UK and India.

Cyber security is a top priority for the Government, and HM Treasury works with the financial authorities, industry and with international partners to strengthen the financial sector’s resilience to threats and hazards of all origins, including cyber risks.

Cross-border transactions are an essential part of the global financial system, and Financial Market Infrastructure (FMI) plays a crucial role in enabling financial institutions and their customers to make payments, both in the UK and internationally.

Financial authorities deploy a range of tools to ensure FMI firms are resilient to the wide range of risks that they could face and that transactions are secure. This includes threat-led penetration testing and sector-wide cyber stress testing, alongside technical advice provided by the National Cyber Security Centre and the National Protective Security Authority.

The UK supports efforts to enhance cross border payments and is committed to achieving the aims of the G20 Roadmap, which seeks to make cross border payments faster, cheaper, more transparent and accessible.