Cyber attacks a growing threat to US financial system
Washington
ONLINE attacks by ever-skilful hackers are a growing threat to the stability of the US financial system, according to a report by a top-level government panel released on Tuesday. The 2015 report by the Financial Stability Oversight Council (FSOC) said that although US banks and financial businesses have been leaders in erecting barriers to hackers, cyber attacks still present a potential systemic danger.
"Over the past year, financial sector organisations and other US businesses experienced a host of notable cyber incidents, including large-scale data breaches that compromised financial information," the report said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
AI risks to financial stability are already a central bank worry
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Over S$646,000 spent to store, maintain, safeguard assets in money laundering case
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank