Report of 50 cyber breaches since 2011 leads congress to investigate cybersecurity at the Federal Reserve!

06 June 2016 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

Following a report about cybersecurity breaches by Reuters the House Committee on Science, Space and Technology sent a letter to Fed Chair Janet Yellen that  these “reports raise serious concerns about the Federal Reserve’s cyber security posture, including its ability to prevent threats from compromising highly sensitive financial information housed on the agency’s systems.”  The June 3, 2016 letter from Chairman Lamar Smith (Texas) and Barry Loudermilk (Georgia, and chairman of the panel’s oversight subcommittee) requested the following 5 categories of documents no later than June 17, 2016:

  1. All cybersecurity incident reports created by NIRT (National Incident Response Team) and local cybersecurity teams.
  2. A detailed description of all confirmed cybersecurity incidents.
  3. All documents and communications referring or relating to higher impact cases.
  4. All documents and communications relating to NIRT’s policies and procedures for responding to cybersecurity incidents, including the incident guide.
  5. An organization chart for the Office of the Chief Information Officer (CIO), the Office of Chief Information Security Officer (CISO), and NIRT.

Given the role of the Fed in our financial system this congressional investigation is critical.

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