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Financial data protection gets House Senate committee attention
WASHINGTON (6/17/11)--“Cybersecurity and Data Protection in the Financial Sector” is the title of a newly posted hearing on the June 21 agenda of the Senate Banking Committee. Scheduled witnesses include Kevin Streff, associate professor and director of the Center for Information Assurance, Dakota State University; Leigh Williams, BITS president, The Financial Services Roundtable; and Marc Rotenberg, president, Electronic Privacy Information Center. Additional witnesses may be announced. Also on the calendar, the House Financial Services Committee has scheduled a field hearing June 29 at the National Computer Forensics Institute in Alabama to take a close look at cybercrimes. The committee’s chairman, Rep. Spencer Bachus (R-Ala.), said in an announcement that a recent series of high-profile cyberattacks, such as one in which the CIA fell victim, should “serve as a major wakeup call for our country.” “Cybercriminals here at home and abroad are constantly trying to discover and exploit weaknesses in our security, both on a national level and a personal level. The committee’s hearing at the National Computer Forensics Institute could not come at a more appropriate time as the frequency of these attacks appears to be growing.” Other recent cyberattacks noted by Bachus include hacking incidents at the International Monetary Fund, the European Union’s headquarters, Citigroup, Sony Corp., Lockheed Martin Corp., RSA Security, the U.S. Senate and Nintendo Co. The committee’s field hearing at the National Computer Forensics Institute will examine the threat hackers pose to individuals, businesses and financial institutions; the methods hackers employ; and ways law enforcement has been able to foil hackers and solve cyber crimes. Earlier this week, the Secure and Fortify Data Act, intended to establish uniform nationwide standards for data security and data breach notification, was discussed during a hearing conducted by the House Energy and Commerce subcommittee on commerce, manufacturing and trade.

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