Cybersecurity is currently a threat across America, but financial institutions have taken the brunt of the pain. 

The Federal Financial Institutions Examination Council created a working group in order to promote coordination across the federal and state banking regulatory agencies, the council said. 

The group’s main goal is to enhance communication among the FFEIC member agencies, including the the FFIEC’s Information Technology Subcommittee of the Task Force on Supervision and the Financial and Banking Information Infrastructure Committee.

“These efforts are important in light of the growing sophistication and volume of cyber attacks and the global importance of critical financial infrastructure,” the company explained.