Wednesday June 01, 2016

Fed Records Show Dozens Of Cybersecurity Breaches

The scariest part about this story is the fact that the U.S. Federal Reserve "detected more than 50 cyber breaches" over the last five years but there is little to no information about who did it and what was accessed. That kind of makes you wonder how many went undetected, doesn't it?

The central bank's staff suspected hackers or spies in many of the incidents, the records show. The Fed's computer systems play a critical role in global banking and hold confidential information on discussions about monetary policy that drives financial markets. The cybersecurity reports, obtained by Reuters through a Freedom of Information Act request, were heavily redacted by Fed officials to keep secret the central bank's security procedures. The Fed declined to comment, and the redacted records do not say who hacked the bank's systems or whether they accessed sensitive information or stole money.