CFTC’s Giancarlo says cyber is top budget priority

14 May 2019 8:43pm
Christopher Giancarlo, head of the US Commodity Futures Trading Commission, said his top budget priority is a $3 million cybersecurity increase for the year to begin Oct. 1.

“Of all the things we need, we really, really need that,” he told a Senate Appropriations subcommittee last week. “If I could ask amongst all our requests, if that one you could give special attention to, because we really do need that.”

Giancarlo is seeking a cyber defense boost from about $7 million to roughly $10 million as the chief US derivatives regulator tries to fend off about 200,000 attacks a month from across the world.