Rep. Lynch Calls for Hearing on North Korea’s Hacking Activities

Apr 6, 2017

WASHINGTON, D.C. – This week, Congressman Stephen F. Lynch (D-Boston), led a letter to Financial Services Committee Chairman Jeb Hensarling (R-TX) and Subcommittee on Terrorism and Illicit Finance Chairman Steve Pearce (R-NM) calling for a hearing to examine North Korea’s hacking activities. Congressman Lynch and his colleagues requested a hearing to conduct necessary oversight of cybersecurity systems in the banking sector as well as examine cybersecurity threats from North Korea and other state actors.

“With increasing evidence of North Korea cyberattack’s targeting U.S. financial institutions as well as banks abroad, it is critical that the Financial Services Committee promptly examine these hacking activities and develop safeguards to protect banks and their customers from cyber criminals. Without proper oversight, Americans’ financial data and personal information as well as our national security are at risk,” said Congressman Lynch.

As recently reported by the New York Times, hackers associated with North Korea attempted to break into Polish banks in late 2016 and left behind a “list of targets…including big American financial institutions like State Street Bank and Trust and the Bank of New York Mellon.” In addition, the National Security Agency’s Deputy Director Rick Ledgett suggested last month that North Korea was responsible for a Bangladesh bank heist – an $81 million cyber heist of the Bangladesh central bank.

Congressman Lynch’s letter was signed by Financial Services Committee Ranking Member Maxine Waters (D-CA), Subcommittee on Terrorism and Illicit Finance Ranking Member Ed Perlmutter (D-CO), as well as the members of the Subcommittee on Terrorism and Illicit Finance: Representatives Carolyn Maloney (D-NY), Ruben J. Kihuean (D-NV), Kyrsten Sinema (D-AZ), John K. Delaney (D-MD), Bill Foster (D-IL), and Juan Vargas (D-CA).

The full text of the letter is available here.