FDIC believes it was breached more than 50 times in 2015 and 2016

[DonViejo]

Source: The Hill




BY JOE UCHILL - 10/06/17 10:19 AM EDT

The Federal Deposit Insurance Corporation (FDIC) believes it was breached more than 50 times in 2015 and 2016, according to an Inspector General's report identifying flaws in the agency's response to the breaches.

The FDIC regulates banks and insures accounts, guaranteeing that deposits up to $250,000 will be paid if an approved institution fails.

According to the report, dated September, there were 54 suspected or confirmed breaches between January 2015 and December 2016. The Inspector General investigated the response in 18 of the 54 cases.

The report concludes that the FDIC did not investigate breaches and notify victims in a timely manner, and did not adequately document decisions or quantify breach damages.

Read more: http://thehill.com/business-a-lobbying/354223-fdic-believes-it-was-breached-more-than-50-times-in-2015-and-2016

[Not Ruth]

1. That might be how Russia got money for Facebook

[procon]

2. Why hasn't the government implemented a new cabinet level cyber security office?

This stuff isn't going to go away. From individuals, to businesses,the military, government, and critical infrature facilities,everything is at risk. The old geezers in congress aren't keeping up with the advances in technology and their ignorance won't safeguard us from these sophisticated foreign cyber attacks.

[muriel_volestrangler]

3. What does a breach of the FDIC involve?

The article says there are "victims" and "personal information". But it makes no effort to say how the FDIC holds personal information about people. Are these customers of failed banks? Bank employees? FDIC employees? Customers of non-failed banks? Could data that might help a fraud against companies be included too?

[FakeNoose]

4. This news is disturbing

...until you read the comments left at the end of the article in The Hill.
Every comment was written by a right-wing (probably Russian) bot.

Exactly the same kind of anti-Obama garbage I had to read all the time on Yahoo and other unmoderated websites. That's what brought me to DU because I was so tired of all their ignorant racist garbage. If a publication blog (like The Hill) doesn't want to moderate their comment section, they need to discontinue having comments.

For all I know maybe The Hill is fake news anyway. I'm not a regular reader and I probably won't go back.