JPMorgan council: Public-private collaboration crucial in combating cybersecurity threats

The government and private sector have been urged by the JPMorgan International Council to strengthen their collaboration in combating cyberattacks that put the economy and national security increasingly at risk, reports CNN. "Cyberattacks in 2021 grew in number and sophistication, demonstrating that both state actors with vast resources as well as criminal groups have the capacity to threaten critical infrastructure and ultimately national security," wrote the JPMorgan International Council, which includes JPMorgan CEO Jamie Dimon, former Secretary of State Condoleeza Rice, and former Defense Secretary Bob Gates, among others. The council also called to strengthen cybersecurity expert hiring in government agencies, improve intelligence sharing with allied countries; approve legislation that would formalize executive orders, and define and enforce cyber behavior norms. Governments should also work on expediting litigation for cybercriminals, according to the council. "To help protect national security and overcome impediments to trade, we need to hold bad actors accountable, provide transparency to those affected by incidents, invest in the uplift to cybersecurity, and adopt safe and sound practices for data protection and handling," wrote Dimon.