The White House. Photo: Diego M. Radzinschi/ALM
The White House has unveiled a new cybersecurity strategy through an executive order from President Donald Trump aimed at strengthening the nation's defenses against cybercrime, scams and foreign digital threats targeting consumers, businesses and financial institutions.
The strategy outlined a broad federal approach to combating cyber threats while improving coordination between government agencies, private industry and international partners. The administration emphasized that cybercrime and foreign adversaries increasingly threaten critical infrastructure such as financial systems, healthcare networks, energy grids and water utilities.
At the center of the order were six major policy pillars designed to shape how the U.S. government responds to cyber threats. These included disrupting adversaries and criminal networks, modernizing federal information systems, strengthening the security of critical infrastructure, supporting innovation in emerging technologies such as artificial intelligence, streamlining cybersecurity regulations and expanding the nation's cybersecurity workforce.
The strategy also called for closer collaboration between the public and private sectors and the deployment of both defensive and offensive cyber capabilities to deter attackers and dismantle online criminal networks.
Financial services leaders welcomed the administration's focus on fraud and cybercrime. America's Credit Unions President/CEO Scott Simpson said the scale of cyber-enabled fraud highlights the need for stronger collaboration across government and industry.
"Fraud and scams are a serious concern for consumers and credit unions. Americans reported losing more than $12 billion to cyber-enabled fraud last year alone," Simpson said. "The President's new Executive Order reinforces how critical it is that we work together across industries, agencies, and departments to combat fraud and cybercrime."
Simpson added that credit unions look forward to working with policymakers and regulators to strengthen protections for consumers and the broader financial system.
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