The Obama Administration is developing an Executive Order thatwould give the Department of Homeland Security a greater role incoordinating issues related to cyber security, CUNA Deputy GeneralCounsel Mary Dunn said Monday during a press call. Thatannouncement comes after three large credit unions were the victimsof distributed denial of service attacks in late January.
|The order, which was first circulated among regulators last fall,isn't expected to specifically address credit unions or financialinstitutions, Dunn said. In fact, she said, thanks to Y2K, thefinancial services industry is ahead of other sectors in theirability to head off cyber risks.
|The Treasury's Financial Service Sector Coordinating Council,which became official in 2003 but was originally formed to address Y2Kissues, is now addressing cyber security, she said. In December,CUNA staffers attended a Financial Services Sector CoordinatingCouncil (FSSCC) meeting to discuss coordination efforts betweenfederal government entities and the financial services sector oncritical infrastructure, cyber-security, and crisis management.
|Given media coverage of cyber attacks and risk to U.S. firms,Dunn said the issue is one the administration feels it needs toaddress. Dunn said CUNA received a call Friday from a credit unionmember concerned that she couldn't access her credit union'swebsite.
|“She immediately thought it was a cyber-security issue,” Dunnsaid. “As it turns out, it was not that or even a problem with thecredit union's website, but it illustrates that the issue is on theforefront of people's minds.”
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