Regulators told to play greater role in cyber security
Companies can’t battle threats on their own, CFTC told
US federal regulators should play a greater role in combating cyber attacks on financial institutions as they lack the resources to tackle these threats on their own, a panel of information security experts told officials at the Commodity Futures Trading Commission (CFTC) on April 25.
Cyber attacks on banks and central counterparties (CCPs) have increased in recent years to the point where even the largest financial institutions may be unable to cope with the sheer number of threats.
“Regulato
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