US banks told to improve cyber security

Bank regulators in the US have outlined cyber security standards designed to protect financial markets and consumers from online attacks against the nation’s financial firms, Reuters reports. Leading banks will be expected to use the most sophisticated anti-hacking tools on the market and to be able to recover from any attack within two hours. Banks with assets of at least US$50bn must satisfy new rules that will be finalized “in the months ahead”.

  • William Hugh Murray, CISSP

    The good news is that these requirements deal more with governance and management than with technology.