National Cyber Defense Financial Services Workshop Report

Full Citation

National Cyber Defense Financial Services Workshop Report: Helping Form a Sound Investment Strategy to Defend against Strategic Attack on Financial Services' '(O. Sami Saydjari et al. eds.)(2009).  Web

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Overview: Government Reports

Synopsis

The National Cyber Defense Initiative ad hoc group organized this workshop to better understand the nature of high-impact, large-scale attacks on the banking and finance sector, approaches to addressing those classes of attacks, and ways that industry, academia, and government can work together on such approaches. The National Science Foundation and Department of Homeland Security Science and Technology co-sponsored the event in cooperation with the Department of the Treasury and experts from the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC).

The group concluded that high-impact, large-scale attacks that target the entire sector are theoretically possible and underanalyzed. A continuing dialogue on defending against such attacks and how to effectively address them in cooperation with government would be productive and useful. The group also concluded that banking and finance sector problems are unique and important and require basic research in modeling and analyzing large-scale interdependent financial systems and in constructing inherently recoverable distributed computation.