The Hill: Financial firms facing serious hacking threat in COVID-19 era

The Hill:

“America is grappling with a cyber insurgency and our financial sector is the number one target,” Tom Kellermann, a former member of a presidential cybersecurity commission during the Obama administration, told a House Financial Services subcommittee during a Tuesday hearing on the threat.

While cybersecurity has long been a major issue for the financial sector, a huge spike in cyberattacks in connection to the COVID-19 pandemic has only underlined the risks.

“We don’t expect Target and Walmart to defend against Russian Bear bombers coming across the horizon, yet today in cyberspace we expect exactly that of JPMorgan and Citibank,” said Jaffer, who also serves as vice president for Strategy, Partnerships & Corporate Development at IronNet Cybersecurity. “That is simply an unsustainable scenario, and we have got to bring the nation together, large banks have to protect small banks.”

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