President Obama today signed an executive order launching a Cybersecurity National Action Plan to help the federal government and businesses protect Americans from cyber attacks. As part of the federal budget request also released today, Obama is seeking $19 billion to fund the action plan.
The president’s approach includes launching a new Commission on Enhancing National Cybersecurity to make recommendations; modernizing federal IT infrastructure with a new federal chief informational security officer; using public awareness campaigns to promote consumer uptake of multi-factor authentication; and launching a Federal Privacy Council to ensure the federal government better protects Americans’ private data.
“For more than 15 years, banks have led the way in implementing multi-factor authentication and other consumer cyber safeguards,” said ABA SVP Doug Johnson. “America’s bankers will eagerly continue to work with government and other sectors of our economy to further protect customers, our nation’s financial infrastructure and our country from cyber threats.”