Report: FDIC data vulnerable

Monday, 31 May 2004, 7:40 AM EST

The Depression-era agency that protects Americans' bank deposits has such lax security that major losses of money, information and other data are possible, congressional auditors said Friday.

The report by the General Accounting Office, the investigative arm of Congress, said many weaknesses of the Federal Deposit Insurance Corp. result from its lack of a fully established security management program.

Good controls established by an effective security management program are essential to ensuring that financial information is protected from misuse, improper disclosure or destruction, the GAO said. As it operates now, however, the FDIC is unable to ensure that such problems do not occur, the report said.

By the Associated Press at Wired.

[ Read more ]




Spotlight

Harnessing artificial intelligence to build an army of virtual analysts

PatternEx, a startup that gathered a team of AI researcher from MIT CSAIL as well as security and distributed systems experts, is poised to shake up things in the user and entity behavior analytics market.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  
DON'T
MISS

Thu, Feb 4th
    COPYRIGHT 1998-2016 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //