Fed should lead cyber defense for financial industry, banks say

Fed Attacked

The Fed itself faced an attack this year when intruders breached a website it uses to stay in touch with banks during emergencies. The Richmond Fed, the regional bank that runs the central bank’s information-technology office, said the February incident didn’t affect critical operations of the Federal Reserve System.

A group claiming to be the hacker-activist organization known as Anonymous took responsibility for the breach. The group posted the names, titles and e-mail addresses of more than 4,000 bankers on the pastebin.com website, according to the American Bankers Association in Washington.

The advisory council, made up of 12 banking industry representatives from each Federal Reserve district, meets four times a year in Washington. Members, who serve for one year, include James Gorman, chief executive officer of New York-based Morgan Stanley, owner of the world’s biggest brokerage, and Jim Rohr, CEO of Pittsburgh-based PNC Financial Services Group Inc., the second-largest U.S. regional bank.

Bloomberg News

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