NEWS | Sept. 24, 2018

Protecting Financial Institutions Against Cyber Threats: A National Security Issue

By Erica Borghard

The U.S. economy is susceptible to offensive operations carried out by national security adversaries in cyberspace. States and highly capable nonstate actors are causing increasing strategic concerns, reflecting a deeper appreciation of the national security—rather than solely criminal—dimensions of the cyber challenge. In February 2018, the director of national intelligence and heads of the National Security Agency, Central Intelligence Agency, and the Federal Bureau of Investigation warned in congressional testimony that cyber attacks perpetrated by foreign adversaries represent one of the greatest national security concerns and the top priority of the intelligence community. Director of National Intelligence Dan Coats proclaimed that the U.S. was “under attack.”