Cyber vulnerability is not going away. We need to work together, and stay vigilant and focused in order to protect ourselves and our customers.
Browsing: Cyber crime
Testifying before the Senate Judiciary Committee today, ABA SVP Doug Johnson called on Congress to act swiftly to enhance the penalties faced by cyber criminals.
ABA SVP Doug Johnson will testify tomorrow before a Senate Judiciary subcommittee hearing on cyber crime and the legal framework for information security. The Senate Banking Committee will meet tomorrow to discuss the role of the Basel, Switzerland-based Financial Stability Board in U.S. bank regulation.
Meanwhile, the House Financial Services Committee will hold several bank-related hearings this week. Tomorrow, the panel will discuss the designation and regulation of systemically important bank holding companies; former ABA Chairman Harris Simmons, chairman and CEO of Zions Bancorporation in Salt Lake City, will testify.
On Thursday, the House panel will also hold a five-year retrospective on Dodd-Frank. The House Judiciary Committee will meet on Thursday to examine financial institution bankruptcy.
On April 26, Romanian law enforcement authorities reported the arrest of 25 suspects believed to be members of a sophisticated international gang of cybercriminals responsible for stealing more than $15 million from banks in Puerto Rico and Muscat, Oman.