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Last week, the United States House Science, Space and Technology Committee released the scathing results of the committee’s investigations into data breaches at the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system by:
The report revealed that the FDIC retroactively reported five additional breaches to the Committee. It also revealed that over 160,000 individuals had been the victims of having their information leave the FDIC by “accident.” The report also found that purported Chinese actors had compromised the FDIC several times between 2010 and 2013 and that the FDIC Chairman’s workstation was also compromised. The Committee’s preliminary findings weren’t encouraging:
Given today’s threat landscape and the inevitability of intrusions, breach disclosure should be a well thought-out component of your cybersecurity program. The FDIC’s disclosure debacle raises some key considerations: