Global Perspective on Cyber Threats, Hearing Before the U.S. House of Representatives Committee on Appropriations, One Hundred and Fourteenth Congress, Second Session, June 16, 2015   [open pdf - 1009KB]

This testimony is from the July 16, 2015 hearing on "Global Perspective on Cyber Threats," before the U.S. House of Representatives, Committee on Appropriations. From the opening statement of Frank J. Cilluffo: "The U.S. financial services sector in particular is in the crosshairs as a primary target. To give you a sense of the magnitude of the problem, consider the following figures which were provided to me recently by a major U.S. bank on a not-for-attribution basis: just last week, they faced 30,000 cyber- attacks. This amounts to an attack every 34 seconds, each and every day. And these are just the attacks that the bank actually knows about, by virtue of a known malicious signature or IP address. […] This pace is magnified by the speed at which technologies continue to evolve and by the fact that our adversaries continue to adapt their tactics, techniques and procedures in order to evade and defeat our prevention and response measures. Against this background, a strong detection and mitigation program is just as necessary as a strong defense. […] The financial services sector understands this well and should therefore serve as a model for other sectors which are simply not as far along on the learning curve. Indeed, up until recently, even the financial sector invested overwhelmingly (85%) in prevention ." Statements, letters, and materials submitted for the record include those of the following: Frank J. Cilluffo, Michael Madon, and Richard Bejtlich

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United States. House of Representatives. Committee on Financial Services: http://www.financialservices.house.gov/
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