Representatives Robin L. Kelly (D-IL) and James A. Himes (D-CT) urged Treasury Secretary Steven T. Mnuchin to
ensure that the "Treasury Department do all it can to keep our
banking sector safe" from cybersecurity threats.
The representatives noted recent "high profile
attacks" on banks in 18 different countries by Lazarus,
"a hacking operation connected to the North Korean
regime." The representatives expressed concern that
"these attacks will help fund missile tests and the
development of nuclear weapons," particularly for "rogue
states like North Korea." The representatives stated that:
"We look forward to working on legislation to keep the
Treasury Department, the Federal Reserve System, and all members of
the banking sector safe from cyber threats. We request that you
brief us on the work that the Treasury Department is doing to
partner with the private sector to deter, mitigate, and eliminate
cybersecurity threats posed by malicious actors, including
The April 6, 2017 letter to Secretary Mnuchin from the ranking
Democratic members of the Oversight and Government Reform
Subcommittee on Information Technology and the Intelligence
Subcommittee on the NSA and Cybersecurity highlights that the
dangers of cyberattacks on financial institutions do not just
include the threat of economic harm, but also risks to national
security and global stability. Regulators should partner with
financial institutions and other corporations to provide meaningful
guidance in addressing these serious concerns.
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