New Industry Paper: Issues to Consider in Preparing for Avian Flu

Council for Critical Infrastructure Protection and Homeland Security (FSSCC) has issued a paper discussing issues that financial institutions may need to face in the event of a widespread avian flu outbreak.

FSSCC is a Homeland Security financial industry council charged with planning for infrastructure protection. Donald F. Donahue, DTCC’s chief operating officer, is chairman of the FSSCC and Sector Coordinator for Banking and Finance.

A serious outbreak of illness, such as avian flu, could cause problems for business and the financial services industry that are quite distinct from the business continuity issues posed by disruptions associated with natural disasters or deliberate malicious activity, according to the paper. The council cautioned that financial services organizations ought to reexamine their current business continuity plans with an eye to surviving a long-running outbreak of a highly infectious disease.

“It’s important to point out that, at this time, an epidemic or pandemic of ‘avian flu’ remains a possibility, not a fact,” said Donahue. “While we do not want to create a sense of panic, FSSCC believes that heightened awareness and preparation is a prudent course for us to take.”

The paper, titled “Issues for Consideration Regarding Preparations for Avian Flu,” shares some of the thinking evolving in the financial service industry. “Our aim is to help financial institutions in thinking through and addressing the issues their specific organization might face,” Donahue said.

To access the FSSCC statement and paper on avian flu, visit www.fsscc.org.