ABSTRACT

'I Love You' Computer Virus and Its Impact on U.S. Financial Services Industry: Hearing before the U.S. Senate, Committee on Banking, Subcommittee on Financial Institutions, One Hundred Sixth Congress, Second Session, May 18, 2000   [open pdf - 278KB]

This testimony compilation from the May 18, 2000 hearing, "'I Love You' Computer Virus and Its Impact on U.S. Financial Services Industry," before the U.S. Senate, Committee on Banking, Subcommittee on Financial Institutions addresses the subject of coordinated critical infrastructure protection in the financial services. From Senator Bob Bennett's opening statement: "The 'I Love You' virus demonstrates several weaknesses in our government's ability to detect and respond to fast moving cyber events in a coordinated and efficient manner. I have been asking the questions for sometime now about what happens when our borders disappear. What does it mean to function in a borderless economy? The Virus illustrates that global boundaries are disappearing for commerce; oceans still separate one federal agency from another. The 'I Love You' virus should occasion a careful review of ou[r] national capabilities. It is important that these weaknesses be addressed now in order to reduce future risks. Statements, letters, and materials submitted for the record include those of the following: Subcommittee Chairman, Bob Bennett; Jack Brock, Director of Government and Defense Information System, General Accounting Office; Gregory Baer, Assistant Secretary for Financial Institutions, Department of Treasury; Stephen Malphrus, Staff Director for Management, Board of Governors of the Federal Reserve, and James Adams, CEO, iDefense.

Publisher:
Date:
2000-05-18
Copyright:
Public Domain
Retrieved From:
U.S. Senate, Committee on Banking, Housing, and Urban Affairs: http://banking.senate.gov/public/
Media Type:
application/pdf
URL:
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