Treasury announces MOU with Israel

Privacy, Cyber Risk & Data Security Department of Treasury MOUs Israel Of Interest to Non-US Persons

On August 25, the U.S. Treasury Department announced a bilateral Memorandum of Understanding (MOU) on Cybersecurity Cooperation with the Ministry of Finance of the State of Israel (MOF). According to Treasury, the MOU “builds on U.S. Deputy Secretary of the Treasury Wally Adeyemo’s visit to Israel in November 2021 that established a bilateral partnership to protect critical infrastructure in the financial sector and recognized the importance of deepening cooperation on cybersecurity to protect the integrity of the international financial system.” While noting that Treasury has a “long-standing cybersecurity information sharing relationship” with MOF, the announcement stated that the MOU “formalizes and strengthens the close partnership between both agencies.” Specifically, the MOU enhanced collaboration in: (i) information sharing relating to the financial sector including cybersecurity information on incidents and threats; (ii) staff training and study visits to promote cooperation in the area of cybersecurity; and (iii) competency-building activities such as the conduct of cross-border cybersecurity exercises.