Financial avenue Wall Street is seeking more Federal help to combat cyber attacks.
According to Engadget, the Securities Industry and Financial Markets Association (SIFMA) has proposed that it and the Government join forces in an effort to combat the cyber threat and hired former NSA director Keith Alexander to advise.
According to a document obtained by Bloomberg, the US banks are not confident in their ability to fend off or cope with increasingly destructive and sophisticated digital weapons aimed at them, and there is even concern that unaffected banks could be the victims of consumer panic as they lose confidence.
SIFMA has offered a solution which involves creating a council of financial executives and deputy-level representatives from eight government agencies including the Treasury, NSA, Homeland Security and the White House.
