| NEW YORK
NEW YORK Aug 25 A group of Wall Street banks
plan to meet the U.S. Treasury Department and other government
officials next month to talk about how to cooperate to fend off
cyber attacks, people familiar with the matter told Reuters.
The agenda of the meeting has not been drawn up, nor have
all the participants been identified, they added.
Bankers and government officials say they want to figure out
ways law enforcement can alert financial firms about cyber
attacks without violating the privacy of businesses that are
victimized. Both sides have long complained that such concerns
have hindered notification, preventing the industry from quickly
adapting to emerging threats.
A multitude of federal agencies, including the Federal
Bureau of Investigation, Secret Service, Department of Homeland
Security and National Security Agency, help monitor and fight
the hackers that have increasingly targeted financial
institutions in recent years.
Banks have suffered from a series of high- and low-profile
attacks in recent years. This week, JPMorgan was subject to a
new kind of phishing scam that sought to access credentials not
just for the bank but for other financial institutions.
The Securities Industry and Financial Markets Association
trade group is organizing the meeting, the sources said. SIFMA
has been trying to foster better collaboration between the
government and the industry for some time, organizing simulated
cyber attacks dubbed "Quantum Dawn" that involve authorities,
regulators and banks.
The trade group hosted a call last week with members and
former NSA Director Keith Alexander, who now works for the
consulting firm Promontory Financial Group, to discuss how to
engage with the White House on cyber security matters.
SIFMA declined to comment on the call or the meeting. A
representative for Alexander did not immediately respond to a
request for comment.
Bankers and bank regulators have become more vocal lately
about concerns that cyber attacks could put customer data and
the stability of the financial system at risk.
JPMorgan Chase & Co Chief Executive Officer Jamie
Dimon and Goldman Sachs Group Inc CEO Lloyd Blankfein
have both named cyber attacks as a big concern this year. Wells
Fargo & Co Chief Risk Officer Mike Loughlin said in May
that "cyber risk is currently our biggest risk."
Treasury Secretary Jack Lew gave a speech focused on the
topic at a Wall Street investor conference in July.
"These incidents represent a direct threat to our economic
and national security, perpetrated by state and non-state actors
around the world, with growing intensity and increasing
sophistication," Lew said.
(Reporting by David Henry and Lauren Tara LaCapra in New York;
Additional reporting by Jim Finkle in Boston; Editing by Dan
Wilchins and Lisa Von Ahn)