Treasury Department Taps Cloudflare, PNNL to Improve Financial Sector Cyber Resilience

Cloudflare will help the Department of the Treasury and Pacific Northwest National Laboratory improve the sharing of advanced threat intelligence as part of an effort to enhance the financial services industry’s cyber resilience.

Under the partnership between the three organizations, the Treasury and PNNL will be using Cloudflare to grant financial services institutions privileged access to needed intelligence.

The initiative to improve financial services’ cyber resiliency is part of the Biden administration’s National Cybersecurity Strategy, which promotes public-private sector partnerships to protect critical infrastructure from cyberattacks, Cloudflare said.

Todd Conklin, chief artificial intelligence officer and deputy assistant secretary for cybersecurity and critical infrastructure protection at the Treasury Department, said Cloudflare and PNNL are the perfect partners in developing a more proactive approach to defending against cyberattacks.

The department’s move to improve the sector’s cybersecurity posture comes after a report released in April disclosed risks affecting financial services companies.

Efforts to improve cybersecurity are not new to the department and the financial sector. In October, the Treasury Department sought feedback on a draft blanket purchase agreement to acquire enterprise-wide cybersecurity services aimed at enhancing cybersecurity and reducing cyber risks.