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The American financial system is one of the most resilient in the world. While we have worked very hard to strengthen the infrastructure that supports it and prepare for events both expected and unthinkable, we must continue to make strides to increase our preparedness and anticipate new threats.
The Department of the Treasury announced today that we will acquire $2 million in services from the Financial Services Information Sharing and Analysis Center (FS-ISAC), a critical component of the financial sector’s system of infrastructure protection. This significant investment will help the FS-ISAC enhance its mission and capabilities.
This Next Generation FS-ISAC will help the financial sector better prepare to face the new physical threats that we have confronted since the attacks of September 11, 2001, as well as the increasing speed and maliciousness of cyber attacks.
At the heart of our ability to protect our financial system from attack or disruption is the sharing of information between government and the private sector, as well as information sharing among individual financial institutions. The Next Generation FS-ISAC will provide real time, accurate information about emerging physical and cyber threats to the entire financial community in a confidential and secure manner.
By working together, the public and private sectors will continue to make great progress in protecting the American financial sector, the millions of Americans that is serves, and our economy as a whole in ways that neither could achieve on its own.
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