ARTICLE
28 March 2017

OMB Issues Report To Congress On The Cybersecurity Of Regulatory Agencies

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
In a fiscal year 2016 Annual Report to Congress on the Federal Information Security Modernization Act, the Office of Management and Budget ("OMB") examined.
United States Technology

In a fiscal year 2016 Annual Report to Congress on the Federal Information Security Modernization Act, the Office of Management and Budget ("OMB") examined: (i) the progress of regulatory agencies in developing cybersecurity policies, including the results of independent Inspector General assessments that identify areas in need of improvement, and (ii) "Federal cybersecurity incidents, [including] ongoing efforts to mitigate and prevent future incidents, and agencies' progress in implementing cybersecurity policies and programs to protect their systems, networks and data."

The Report found that the median response to cybersecurity threats by federal agencies could only be characterized as being in its initial stage, since the cybersecurity policies and procedures that are in place at all federal agencies are "not consistently implemented." The Report also found that the single most common cybersecurity threat to federal agencies is not a cyberattack by an external hacker, but the loss or theft of government computers and physical storage media.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More