Senate Banking Leaders Question Regulators on Cybersecurity of Banks

WASHINGTON D.C. (Worthy News)– The leaders of the Senate Banking Committee are asking financial regulators what they’re doing to ensure the safety of banks targeted for cybercrimes, raising the pressure to respond to recent breaches that include a high-profile attack on JPMorgan Chase and other banks that might have been an act of international aggression, the Washington Examiner reported.

Fears that Wall Street might be at particular risk for hacks have risen since JPMorgan revealed in August that an attack had compromised the information of 76 million households and seven million small businesses. The incident also involved at least a dozen other financial firms.

Cybersecurity experts warn that the government and public have underestimated the magnitude and potential danger of the breach, partly because it is not clear whether the hacking was part of a larger strategy to defraud customers or markets or whether it was motivated by foreign enemies of the U.S., particularly Russia. — [wp_colorbox_media url=”http://www.washingtonexaminer.com/senate-banking-chiefs-press-regulators-on-cybersecurity-of-banks/article/2555104″ type=”iframe” hyperlink=”Source”]

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