Obama Makes Cybersecurity a Focal Point in Final Budget

From: American Banker

By Ian McKendry

WASHINGTON — The Obama administration announced a new cybersecurity strategy on Tuesday, calling for a 35% increase in funding to bolster private and public defenses and the creation of a new chief information security officer position for the government.

President Obama has frequently cited worries about cybersecurity, including last year when the White House held a cybersecurity summit in at Stanford University in California. But high-profile data breaches, like one at the Office of Personnel Management that exposed the personal information of more than 20 million government employees, have served as a stark reminder that more needs to be done.

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