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Purveyor

(29,876 posts) Wed Feb 25, 2015, 05:21 PM Feb 2015

Regulator Warns Of 'Armageddon' Cyber Attack On Banks

Source: USA TODAY

Kaja Whitehouse, USAToday 2:43 p.m. EST February 25, 2015

A New York financial regulator said he is considering new rules to protect against "an Armageddon-type cyberevent" that would devastate U.S. financial markets.

Ben Lawsky, head of New York's Department of Financial Services (DFS), said he fears a cyberattack aimed at the banks and other financial firms that will represent a "systemic risk" to the financial system and broader economy — not unlike the mortgage meltdown of 2008.

"We are concerned that within the next decade, or perhaps sooner, we will experience an Armageddon-type cyberevent that causes a significant disruption in the financial system for a period of time, Lawsky said Wednesday at Columbia Law School.

He called such an attack a "cyber 9/11."

Read more: http://www.usatoday.com/story/money/business/2015/02/25/lawsky-goldman-sachs-banks/23995979/

5 replies

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Regulator Warns Of 'Armageddon' Cyber Attack On Banks (Original Post) Purveyor Feb 2015 OP

In related news, I watched GoldenEye last night on our Apple TV. onehandle Feb 2015 #1

This would be the second Armageddon attack. Shrub and crew already Pearl Harbored us financially. kairos12 Feb 2015 #2

"Go to Jail. Go DIRECTLY to Jail. Do not pass GO, do not collect $200"? Demeter Feb 2015 #3

IF the private sector was HALF as worried about their systems getting hacked benld74 Feb 2015 #4

Well I guess I'll go and take my money out of the bank. YOHABLO Feb 2015 #5

onehandle

(51,122 posts)

1. In related news, I watched GoldenEye last night on our Apple TV.

Reply to Purveyor (Original post)

Wed Feb 25, 2015, 05:23 PM

Feb 2015

Similar plot.

kairos12

(12,872 posts)

2. This would be the second Armageddon attack. Shrub and crew already Pearl Harbored us financially.

Reply to Purveyor (Original post)

Wed Feb 25, 2015, 05:48 PM

Feb 2015

Last edited Wed Feb 25, 2015, 06:36 PM - Edit history (1)

Demeter

(85,373 posts)

3. "Go to Jail. Go DIRECTLY to Jail. Do not pass GO, do not collect $200"?

Reply to Purveyor (Original post)

Wed Feb 25, 2015, 05:49 PM

Feb 2015

That kind of rule?

benld74

(9,909 posts)

4. IF the private sector was HALF as worried about their systems getting hacked

Reply to Purveyor (Original post)

Wed Feb 25, 2015, 05:51 PM

Feb 2015

as they are about FEDERAL systems getting hacked.

They would have nothing to worry about.

Always the stories on hacked federal systems, when actually, they are far safer than private sector. And the public is just getting their dose recently. Target, grocery store chains, health insurance and the list grows.

YOHABLO

(7,358 posts)

5. Well I guess I'll go and take my money out of the bank.

Reply to Purveyor (Original post)

Wed Feb 25, 2015, 06:32 PM

Feb 2015

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