“The financial services sector of the United States is open for ‘business as usual,’ despite yesterday’s warnings from the Department of Homeland Security,” stated Donald F. Donahue, Sector Coordinator for Banking and Finance and Chairman of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security. “We recognize the seriousness of this information, however, the enormous efforts financial services firms have undertaken over the past two years to strengthen our ability to protect our employees and to continue to conduct business normally have positioned us well for this environment of new threats and concerns.”
“In addition,” Donahue pointed out, “the Council, working closely with our partners in the Department of the Treasury and the Department of Homeland Security, has made steady progress in enhancing the quantity and quality of communication between the public and private sectors in support of these efforts.”
Under Homeland Security Presidential Directive 7, the Department of the Treasury has direct responsibility for infrastructure protection and homeland security efforts for the financial services sector, under the overall guidance of the Department for Homeland Security. Since most of the sector is privately owned, the Treasury appoints a private-sector Sector Coordinator to work with on these issues. Donahue was appointed to this role by Treasury Secretary John Snow this past May. The Sector Coordinator also chairs the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security, a group of private sector firms and financial trade associations that works to help reinforce the sector’s resilience and address sector-wide issues.
“Financial services firms are putting in place special security precautions – over and above the strengthened procedures we already follow – in light of this new information,” Donahue advised. “We are prepared to continue to deliver financial services safely, securely and reliably. Financial institutions are working cooperatively with law enforcement officials and other representatives of federal and state governments to meet these objectives.”
“We want to assure the American public that they can remain confident that the safest place for their financial assets is with their trusted financial institution,” Donahue concluded. “Consumers can check with their financial institutions for answers to specific questions and for help in addressing any concerns they may have, but they should rest assured that the financial services sector has the resiliency and preparedness to deal with these threats. Nothing is being taken for granted and the sector’s vigilance in safeguarding itself, its employees, and its customers and their assets is ongoing.”