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Cybersecurity matters for families, workers and businesses, and cyber threats present serious challenges to our national security and economy. The President has taken significant steps to bolster our nation’s cyber defenses, and he has directed the Administration to act to safeguard the government’s infrastructure, increase collaboration with the private sector, and help Americans manage cyber risks.
As part of this effort, the Treasury Department has been moving on a host of fronts, from identifying baseline protections for financial institutions to facilitating faster information and intelligence sharing with and among companies and supporting the private sector’s response when an incident occurs. We are also working with the financial sector to evaluate cyber risks and strengthen their defenses through joint cyber exercises that test how we respond – together – to cyber incidents.
Firms across the financial sector have made substantial progress to protect themselves and their customers. Still, cyber defenses are not where they need to be. In our interconnected economy, vulnerabilities in one part of the system can put others in danger. National Cybersecurity Awareness Month is a crucial opportunity for all of us to redouble our efforts to strengthen our security in cyberspace.
