Cyber Attacks on Financial System Pose Increasing Threat

Posted May 21, 2015 at 5:10am

“US regulators are increasingly concerned about the threat that cyber attacks pose to financial stability after assaults on Sony Pictures and Target highlighted the proliferating range of techniques used by digital raiders,” according to The Financial Times .  

“On cyber security, the annual report from the Financial Stability Oversight Council said ‘the prospect of a more destructive incident that could impair financial sector operations’ was even more concerning than recent breaches that have compromised financial information.”  

“The regulators’ report pointed to the troubling implications of last year’s attack on Sony Pictures — which the US blamed on North Korea — noting that the company’s computers were apparently rendered inoperable, suggesting that attackers had reached a new level of sophistication.”