US consolidates protection of critical financial infrastructure

Washington, DC -- The US has increased efforts to consolidate oversight and development of critical infrastructure protection in the country’s financial services. According to the Department of Treasury, this will enhance the efficiency of information sharing across the sector.

The Treasury has organised its efforts into two main groups -- the Financial and Banking Information Infrastructure Com-mittee (FBIIC) and the Financial Services Sector Co-ordinating Council (FSSCC). It has also integrated financial infrastructure protection with homeland security, and in December 2003 set up the Next Generation Financial Services Information Sharing and Analysis Center (FS-ISAC).

The FBIIC is sponsored by the US President’s Working Group on Financial Markets and consists of many

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