FDIC security woes make banks sweat over supervisory data
Fears over confidential reporting after inspection urges regulator to address cyber “weaknesses”
An audit report on information security management at one of the top US regulators has risk managers worrying that their confidential examination data may not be properly stored and secured by the agency.
“Regulators come in a few times a year, and we must provide them with whatever information they want without the ability to negotiate data protection measures as we can with third-party vendors,” says a senior risk manager at a US bank.
The Office of the Inspector General issued an audit
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