Regulators Warn on Lack of "Basic" Cybersecurity Protections

Panelists at the Sifma Annual Meeting felt attacks could be prevented if cybersecurity was treated as an integrated business process.

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Thomas Ferlazzo, senior vice president, Operational Risk Supervision at the Federal Reserve Bank of New York, said that examinations being conducted by the regulator still find cybersecurity processes lacking at some firms it supervises.

“In some of the exam work that we’ve done, we still see some of the basic hygiene efforts are lacking. We still lapses in good cyber-hygiene and good risk management,” he said. “It is frustrating to see some basic elements still missing. There’s a fundamental

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