The Department of the Treasury’s Financial and Banking Information Infrastructure Committee held a meeting to review developments as part of its initiatives to fortify cybersecurity in the U.S. financial system.
The meeting was held on Tuesday and led by Deputy Secretary of the Treasury Wally Adeyemo, who cited information sharing as a critical element in detecting malicious Internet-based activities in financial entities.
FBIIC includes 18 member organizations, including the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Federal Reserve Board. The committee created a Cloud Working Group, which provided an update on its incident response plans and other strategies during the meeting.
Adeyemo highlighted member agencies’ efforts to protect the country’s financial infrastructure, particularly when threats emerged amid Russia’s invasion of Ukraine. He said that FBIIC needs to ramp up its cybersecurity measures in order to protect the industry from elevated threat levels.
The Treasury Department is one of the public sector entities feeling the impact of cyber in their operations. Issues like these will be discussed at the Potomac Officers Club’s 2023 Cyber Summit, which will be held on June 8. Register to participate in the event.
