A coalition of U.S. senators urged President Obama via letter on Monday to prioritize cybersecurity and strategies to counter cyber threats in the financial sector in discussions at the upcoming G-20 summit in September.
The coalition included U.S. Sens. Gary Peters (D-MI), Sherrod Brown (D-OH), Kirsten Gillibrand (D-NY), Martin Heinrich (D-NM), Debbie Stabenow (D-MI) and Mark Warner (D-VA).
“If we are to successfully combat sophisticated cyberattacks, members of the international community must work collaboratively given the dispersed nature of both attackers and targets,” the senators wrote. “Our financial institutions are connected in order to facilitate global commerce, but cyber criminals, whether independent or state-sponsored, imperil this international system in a way few threats have. We strongly urge you to work with your counterparts and prioritize this discussion at the G-20 leaders level in September.”
Hackers stole approximately $81 million from the Central Bank of Bangladesh in February using the Society for Worldwide Interbank Financial Telecommunications (SWIFT) international financial messaging service.
“Global coordination on these issues will serve a dual purpose,” the senators wrote. “We will be able to address cybersecurity vulnerabilities in our shared financial system thereby safeguarding the integrity of our international financial system and the health of our economies. We will also improve collaboration in and among the international law enforcement and financial regulatory communities and better enable them to pursue counter-terror financing and anti-money laundering agendas.”