On October 17, President Obama signed an Executive Order designed to improve the financial cybersecurity of consumer financial transactions. The Executive Order requires the federal government to take steps to implement greater security protections for governmental payments, including government-issued payment cards, and to protect sensitive data about individuals that is collected and made available online by implementing, for example, multiple factors of authentication. In addition, federal agencies are required to assist and co-ordinate efforts to combat identity theft in conjunction with the Federal Trade Commission (FTC) and its www.identitytheft.gov website.

White House Press Office – October 2014