U.S. and Israel Sign MoU on Cybersecurity

The United States and Israel finalized a Memorandum of Understanding ("MoU") on cybersecurity cooperation.

In the MoU, Treasury and Israel's Ministry of Finance (i) established a bilateral partnership focusing on protecting infrastructure critical to the financial sector and (ii) highlighted cooperation between the two countries.

The MoU followed from a visit to Israel in November 2021 by Deputy Secretary of the Treasury Wally Adeyemo. During the visit, Mr. Adeyemo worked with Israeli counterparts to establish a Cyber Task Force designed to combat the spread of ransomware internationally. The aim of the MoU is to (i) improve information sharing relating to cybersecurity incidents and threats, (ii) promote proper cybersecurity practices and (iii) participate in training exercises to increase competency through, for example, cross-border cybersecurity exercises.