With cyberattacks on the rise, issuers have had to keep fortifying their defenses against criminals targeting the public sector. 

While the SEC's cybersecurity rule does not apply to municipal issuers, there are a few points discussed in the Adopting Release that may be useful for municipal market participants. 

New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.

Through proposed SEC regulations, federal grants and cybersecurity insurance, areas of the public finance industry are adjusting to costly and omnipresent cyber threats. 

The increasing number and frequency of cyber attacks against municipalities is a cause for credit concern, S&P Global Ratings says.

The California Department of Finance aids the governor in drafting the preliminary budget that is released in January.

Increased use of third-party vendors by transportation issuers may be putting those entities at increased risk.

Upgrading the agency's technology could make information exchange more secure.

Scammers are masquerading as the IRS’ Tax Exempt and Government Entities Division to try and get issuers and borrowers to disclose confidential information.

Municipal governments have become a target for online criminals. Experts warn their neglect of cybersecurity puts finances, services and vital records at risk.