http://online.wsj.com/article/BT-CO-20130918-708397.html
By Michael R. Crittenden
The Wall Street Journal
September 18, 2013
WASHINGTON -- Hackers and other cybercriminals pose as grave a threat to
the financial system as the recent financial crisis if banks and
government officials don't mount an effective response, a top U.S.
official warned Wednesday.
The growing sophistication of cyberattacks spawned by criminal
organizations, hackers and other foreign governments could pose a systemic
risk to the financial system, Comptroller of the Currency Thomas Curry
said in prepared remarks for a speech in Washington. While such threats
are manageable the risks should not be downplayed, Mr. Curry said.
"The financial services industry is one of the more attractive targets for
cyberattacks, and, unfortunately, the threat is growing," Mr. Curry said.
Regulators and financial industry executives have increasingly raised
alarms about the ability of cybercrimes to disrupt the financial system.
Banks have spent millions trying to stave off and respond to such strikes,
including "denial-of-service" attacks against banks such as Bank of
America Corp. (BAC) and Capital One Financial Corp. (COF) that take down
bank websites.
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