19 August 2017
Find out more

Sifma calls for government action after Quantum Dawn cyber security drill

19 July 2013  |  2362 views  |  0 Source: Sifma

SIFMA today released the following statement from Karl Schimmeck, vice president, financial services operations, upon completion of the Quantum Dawn 2 cybersecurity exercise.

"Cybersecurity is a top priority for the financial industry. The Quantum Dawn 2 exercise was a success, with robust participation from over 500 individuals at approximately 50 entities from the financial services sector and the government. This exercise gave participants the opportunity to run through their crisis response procedures, practice information sharing and refine their protocols relating to a systemic cyber attack. We look forward to analyzing today's findings with our members to identify areas for improvement and best practices that will enable firms and the entire sector to better prepare for and defend against cyber threats. We expect an after action report will be available in the next month.

"SIFMA continues to believe that industry efforts alone are insufficient to address cyber attacks. A strong partnership between the industry and government is essential to effectively defend against these threats. As our CEO, former Senator Judd Gregg, said in his recent Bloomberg OpEd, it's vital that Congress work quickly to pass legislation that promotes information sharing, updates the criminal penalties associated with cyber-attacks, and provides protections for companies that share information and respond to malicious activity.

"Moving forward, the industry will continue to dedicate significant time and resources to address this growing threat and protect our clients and the integrity of the financial markets."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8372 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7560 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6659 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6222 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6087 views comments | 11 tweets | 9 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job