Cybersecurity: Threats to the Financial Sector

Today's hearing will provide members of this subcommittee the opportunity to better understand the challenges financial institutions and their customers face from cyber threats. This year alone there have been numerous security breaches and attacks on private companies, federal agencies, and financial institutions. Reports estimate that more than $1 trillion is lost annually to cyber attacks and thaton average a security breach costs a small business approximately $7 million.

These threats a...