SIFMA Urges Senate To Pass Cyber Sharing Bill

It seems as if every day there is a new report of a data breach or cyber attack. For the same reason that Willie Sutton robbed banks — "because that's where the money is" — cyber criminals have been incessant in their targeting of financial institutions. So it should come as no surprise that in an October 19, 2015, letter to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Harry Reid (D-NV), the Securities Industry and Financial Markets Association (SIFMA) strongly urged the Senate to adopt the Cybersecurity Information Sharing Act of 2015 (CISA).

The bill appears slated to hit the Senate floor in the coming days. If enacted, CISA will significantly streamline the ability of private businesses to share emerging cybersecurity threats (cyber threat indicators) and responses thereto (defensive measures) with the federal government. This collaboration is intended to improve cybersecurity in the U.S. by making companies better informed about the