U.S. And Israel Create Joint Task Force On FinTech And Cybersecurity

The U.S. Department of the Treasury and Israel's Ministry of Finance entered into a bilateral partnership aimed at safeguarding critical financial infrastructure and countering ransomware threats. This announcement coincided with the creation of the U.S.-Israeli Task Force on FinTech Innovation and Cybersecurity.

Deputy Treasury Secretary Wally Adeyemo and his Israeli counterparts stated that the joint effort will be committed to supporting robust FinTech innovation while combating state and criminal cyber actors. As an initial step, the Task Force will develop a Memorandum of Understanding to support (i) permitted information sharing with respect to the financial sector, including cybersecurity information, (ii) training and "study visits" to encourage cooperation in the area of cybersecurity and the financial system, and (iii) activities designed to promote cybersecurity competency-building efforts (e.g., cross-border exercises "linked to global