OCC's Curry: Cyber Threats Pose Potential Systemic Risk

[InfoSec News <alerts () infosecnews org>]

http://online.wsj.com/article/BT-CO-20130918-708397.html

By Michael R. Crittenden
The Wall Street Journal
September 18, 2013

WASHINGTON -- Hackers and other cybercriminals pose as grave a threat to 
the financial system as the recent financial crisis if banks and 
government officials don't mount an effective response, a top U.S. 
official warned Wednesday.

The growing sophistication of cyberattacks spawned by criminal 
organizations, hackers and other foreign governments could pose a systemic 
risk to the financial system, Comptroller of the Currency Thomas Curry 
said in prepared remarks for a speech in Washington. While such threats 
are manageable the risks should not be downplayed, Mr. Curry said.

"The financial services industry is one of the more attractive targets for 
cyberattacks, and, unfortunately, the threat is growing," Mr. Curry said.

Regulators and financial industry executives have increasingly raised 
alarms about the ability of cybercrimes to disrupt the financial system. 
Banks have spent millions trying to stave off and respond to such strikes, 
including "denial-of-service" attacks against banks such as Bank of 
America Corp. (BAC) and Capital One Financial Corp. (COF) that take down 
bank websites.

[...]



--
Find the best InfoSec talent without breaking your
recruiting budget! Post a Job, $99 for 31 days.
Hot InfoSec Jobs - http://www.hotinfosecjobs.com/