Regulators told to play greater role in cyber security

Companies can’t battle threats on their own, CFTC told

cyber-soldiers

US federal regulators should play a greater role 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) earlier today (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.

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