Regulator warns of 'Armageddon' cyber attack on banks
Posted on AllSides February 25th, 2015
From The Left
A New York financial regulator said he is considering new rules to protect against "an Armageddon-type" cyber attack that would devastate U.S. financial markets.
Ben Lawsky, head of New York's Department of Financial Services (DFS), said he fears a large enough hack on Wall Street firms could "spill over into the 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 cyber event that causes a significant disruption in the financial system for a...
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