For Immediate Release
May 18, 2016
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA to Congress: Nation’s Laws Should Reflect Evolving Cybercrime Challenge

​WASHINGTON — America’s banking industry strongly supports efforts to further enhance our nation’s ability to defend against, deter and prosecute the perpetrators of cybercrime, and will continue to work with Congress to achieve these goals, according to testimony from the American Bankers Association before the Senate Judiciary Subcommittee on Crime and Terrorism today.
 
Charles Blauner, managing director and global head of information security at Citigroup, Inc., testified on behalf of ABA.  Blauner noted that the banking industry shares lawmakers concerns about ensuring that America’s laws reflect the evolving cybercrime challenge, particularly as the use of botnets by criminals and nation states to deploy malware, including ransomware, is becoming more prevalent and complex. The dedicated efforts of the financial sector, the administration, and federal law enforcement to counteract these threats have achieved significant successes as they work to educate customers on how to protect themselves through proper computer protocol and general threat awareness.
 
Blauner also expressed the banking industry’s strong support for S. 2931, The Botnet Protection Act of 2016.
 
“The Botnet Protection Act of 2016 would provide important, additional protections, and would update the criminal code with improved legal tools to stop criminals and foreign agents from leveraging botnets and attacking our critical infrastructure,”  Blauner said.  “We look forward to working with Congress, the committee and administration as we collectively improve the legal and operational tools necessary to deter, detect, apprehend and prosecute those that are using, for criminal purposes, technology designed to create a more efficient and effective global economy.”
 
For a copy of Blauner’s full testimony, please click here.
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
 
# # #