Fed's George warns on cybersecurity; no comment on economy



Cybersecurity threats are growing quickly for the payment networks of the U.S. financial system, Kansas City Federal Reserve President Esther George said in remarks that did not address the outlook for the U.S. economy.
Speaking on Wednesday at a conference in Chicago on the payments system, George warned that the growing threats were undermining public confidence in the system.
Cybercriminals have hacked into major U.S. banks and even stole $81 million from an account at the New York Fed in February by hacking into SWIFT, an international payments network.
"We must keep pace with the... read more

 
12 October 2016 in Science &Technology, Views: 36
Source: Reuters
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