Security News > 2020 > January > Congressmen Call for Enhanced Financial Sector Security

Two Democratic Congressmen have sent letters to nine federal financial regulatory agencies asking that take action to shore up cyber defenses in the sector because of looming security threats from Iran.

On Wednesday, the FBI and Department of Homeland Security issued a security bulletin to local law enforcement warning of Iranian-sponsored cyberattacks, although no specific threats were disclosed, according to CNN. In their letter sent this week, Democratic representatives Emanuel Cleaver II, D-Mo., and Gregory Meeks, D-N.Y., who both sit on the House Financial Services Committee, wrote that there is an impending threat to the financial services infrastructure, not only in the U.S. but across the globe.

"We urge you, our nation's financial regulators, to work in coordination with law enforcement and regulated entities to increase sharing of appropriate cyber threat information," the Congressmen wrote.

In the years since the DDoS attacks, security experts say, Iran has increased its cyber capabilities and could target critical infrastructure within the U.S. Homeland Security officials have warned about Iran's increased ability to deploy so-called "Wiper" attacks, which use malicious code designed to overwrite systems or otherwise leave them unusable and unrecoverable.

"As tensions with the Iranian regime continue to unnecessarily escalate, it's critical that financial regulators and individual institutions be proactive in preparation for potential cyber-attacks against our financial system. While I'm hopeful we can avoid any further conflict, it's important we be prepared to protect consumers and defend our financial system from any major disruptions."

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https://www.inforisktoday.com/congressmen-call-for-enhanced-financial-sector-security-a-13594