And affected 300,000 users in 150 countries. Members of the science, space, and Technology Subcommittee looked at ways to strengthen the governments cybersecurity posture. This is just under two hours. We will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. Good morning and welcome to todays hearing entitled, bolstering the Cyber Security Lessons Learned from wannacry. I recognize myself for five minutes for an opening statement. I want to welcome the witnesses here today. And i would also welcome chairman smith, oversight subcommittee, Ranking Member beyer, research and deck Technology Committee chairman abraham. Research and technology Ranking Member lipinski. Members of the subcommittees, our expert witnesses and members of the audience. Cybersecurity, a content we hear mentioned frequently, especially in this period of rapidly emerging threats, is an everevolving concept. Maintaining an effective cybersecurity posture requir
Maintaining an effective cyber tourity posture is important remain vigilant. Too often when we hear about the importance of Cyber Security we are left without concrete steps to take to ensure our positions position against emerging threats. One of the goals today is to learn about tangible measures the government can take to its i. T. Systems to defend against new and emerging threats including novel and sophisticated rent somewhere threats. The specific focus will be the wannacry ran somewhere attack. It was last month in a worldwide attack that impacted nearly every country in the world. Although the concept of ransom ware is not new, the type of rent somewhere employed by wannacry was novel. It made people pay to get access to documents. It signaled a new type of wo rming. It would spread more rapidly with each new infection. In light of the method of attack, Cyber Security experts including those we will hear from today have expressed concerns that the virus is only a preview of a
Hensarling the meeting comes toorder. The chair is authorized to call recess at any time and members have five days to submit records. The hearing is for the purpose of receiving the secretary of treasuries annual report on the state of the International Financial system. Before proceeding to that report, i will give you a report on the hollings worth family. Joseph albert holingsworth arrived this morning weighing in at 7 pound, 15 ounces. Mother and baby are doing well. Husband and father is a total wreck but congratulations to our colleague tray hollingsworth. [applause] we will give him an excused absence from this morning. We welcome secretary treasury steven mnuchin. As we know this system rest heavily upon your u. S. Financial system and that system clearly needs improvement. Fortunately, President Trump has outlined a bold, forward looking plan to tackle the Serious Problems facing hard working American Families who have seen their pay checks stagnant and dreams diminish. The e
U. S. Debt limit, tax reform, and liquidity requirements for Community Banks. He also discusses possible provisions to deter currency manipulation and future u. S. Trade deals. Held by the House Financial Services committee, this is three hours. The committee will come to the committee will come to order. The chairs authorized to declare recess of the committee at any time. Members will have five legislative days in which to submit extraneous materials to the chair for inclusion the record. The hearings for the purpose of receiving the secretary of treasurys annual report on the state of the International Finance system. But before proceeding to that report, i will give you a report on the hollingsworth family of indiana. Would like to share with you some bury good news. Hollingsworthbert the fourth arrived this morning at 1 38 a. M. , weighing in at seven pounds, 15 ounces, mother and baby are doing well. Husband and father is a total wreck, but congratulations to our colleague, ray c
The committee will come to order. Cyber security remains one of the greatest challenges facing our nation. As we become more reliant on technology and Digital Infrastructure they can threat of Cyber Attacks has dramatically increased. Every day our citizens, our Critical Infrastructure operators and our federal, state and local governments have to defend against hundreds of thousands of potential Cyber Attacks. These come from criminals who take advantage of our vulnerable people, foreign actors who threaten our Critical Infrastructure, and hackers who try to destabilize american businesses. Cyber attacks are more coordinated and more dangerous than ever. In response to this threat, american regulators have begun to set new standards for Cyber Security and digital safety. They have moved quickly in that work. And in the last four years alone, federal regulators have passed 48 rules on Cyber Security. More than 10 per year. And that doesnt include new policies at the state as well as th