FFIECMatt Gunn, Managing Editor | TechComply

The Federal Financial Institutions Examination Council (FFIEC) has announced the creation of a new group to address threats in critical infrastructure and cybersecurity in an effort to improve communication and coordination across state and federal agencies.

Whether it was the May 7 DDoS attack¬†organized by hacktivist group Anonymous, or the reemergence of the infamous ZeuS malware, we’ve seen plenty of recent examples of cybersecurity threats to financial institutions. Outside of the headline-grabbing news items, it would seem corporate and personal data breaches continue to happen all the time.

The FFIEC’s press release didn’t give much additional detail beyond simply announcing the new Cybersercurity and Critical Infrastructure Working Group and its intent to enhance communication between various FFIEC member agencies and other government or private groups. Those might include the FFIEC’s Information Technology Subcommittee of the Task Force On Supervision, the Financial Services Sector Coordinating Council and others.

“These efforts are important in light of the growing sophistication and volume of cyber attacks and the global importance of critical financial infrastructure,” states the FFIEC announcement.

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