Russian troops haven’t invaded Ukraine yet, but government officials here in the U.S. are worried that our big banks could be the target of Russian cyberattacks as things heat up in Europe.
According to a Fox Business report, JPMorgan Chase, Wells Fargo, Citigroup, and other large money center banks met with officials to strategize and prepare for the tactics Russia could use.
Here’s what Anne Neuberger, the Deputy National Security Advisor for Cyber and Emerging Technology, said at a press conference.
“We don’t have the level of cyber resilience that we wish. Since the beginning of the administration, President Biden has made both domestic and physical resilience a priority. But on the other hand, one should always prepare for any contingencies. And we’ve been doing so sharing sensitive information, encouraging the private sector owners and operators to do the work they need to do to lock their digital doors. Essentially do the equivalent of putting on an alarm so one can rapidly identify if there is an intruder and quickly contain and respond.”
Joe Biden made headlines Friday when he spoke of his certainty that Russia was on the verge of attacking Ukraine. “As of this moment, I’m confident he has made the decision. We have reason to believe that.”
Federal Reserve Chairman Jerome Powell has been talking about his fear for months of a big cyberattack on financial institutions and what that could mean for the financial industry and Wall Street.
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