Financial Services Information Sharing and Analysis Center explained

Financial Services Information Sharing and Analysis Center (FS-ISAC)
Type:Information Sharing and Analysis Center
Industry:Financial services
Founded:1999
Members:Nearly 7,000

The Financial Services Information Sharing and Analysis Center (FS-ISAC) is an industry consortium dedicated to reducing cyber-risk in the global financial system. Serving financial institutions and in turn their customers, the organization leverages its intelligence platform, resiliency resources, and a trusted peer-to-peer network of experts to anticipate, mitigate and respond to cyberthreats. FS-ISAC has nearly 7,000-member firms with users in more than 70 countries. Headquartered in the United States, the organization has offices in the UK and Singapore.

History

FS-ISAC was formed in 1999 in response to the Presidential Decision Directive 63, signed by President Clinton in 1998 which mandated that public and private sectors share information about physical and cybersecurity threats and vulnerabilities to help protect the US critical infrastructure via Information Sharing and Analysis Centers (ISACs).[1] After the 9/11 attacks and in response to subsequent federal actions, FS-ISAC expanded its role to encompass physical threats to the financial sector. In recent years FS-ISAC has expanded into a global organization and has played a paramount role in leading several industry initiatives to better protect and serve the global financial services industry.[2] [3] [4]

Notes and References

  1. Web site: PRESIDENTIAL DECISION DIRECTIVE/NSC-63. FAS.
  2. Web site: The Value of Information Sharing The Clearing House. www.theclearinghouse.org. 2017-06-21.
  3. News: New Financial System Analysis & Resilience Center Formed. Dark Reading. 2017-06-21. en.
  4. News: Will your bank be on your side if it gets hit with a cyberattack?. Tan. Anjelica. 2017-05-10. TheHill. 2017-06-21.