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Nov
18

FEDERAL RESERVE CHIEF WORRIED ABOUT FINANCIAL SYSTEM CYBERSECURITY

From: Bloomberg/BNA

by

Janet Yellen, chair of the Board of Governors of the Federal Reserve System told Congress that cybersecurity “is one of the most significant risk our country faces.” Yellen called on financial institutions to make sure internal controls are in place to effectively respond to cybersecurity threats.

Cybersecurity issues pervade many industries across the U.S. and that data breaches and other hacking incidents directly impact industries from financial services to the technology sector. But hearing a warning from the top monetary policy official for the U.S. is still scary.

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