Treasury Calls Cybersecurity “Most Pressing” Risk

March 31st, 2015

Last week, Sarah Bloom Raskin, Deputy Secretary of the Treasury Department, delivered remarks in London at the City Week International Financial Services Forum.  In her speech, Deputy Secretary Raskin called cybersecurity “the most pressing operational risk of our time.”

The Treasury is now focusing on how to augment cyber resilience within the financial sector.  Deputy Secretary Raskin called on financial institutions to share more information amongst one another, outline plans for responding to future attacks and conduct third party vendor due diligence.  She acknowledged that the goals of the Treasury are no small feat, saying, “the enormity of the challenge seems astronomical.”

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