A federal bank regulator is warning that financial institutions are increasingly coming under cyberattack, specifically pointing to a threat of banks being hacked and then finding themselves subject of extortion schemes.
Bank regulator warns of cyber extortion scheme
The Federal Financial Institutions Examination Council (FFIEC) today released a statement alerting financial institutions to the increasing frequency and severity of cyber attacks involving extortion. The FFIEC was established in 1989 to establish standards used by the Board of Governors of the Federal Reserve (FRB), the Federal Deposit Insurance Corporation (FDIC) and other bank regulators in their examinations.
“Cyber attacks against financial institutions to extort payment in return for the...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
