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NY Surveying Banks On Cyber Security Defenses

Money in a pants pocket
Flickr/Mike Schmid

New York's top financial regulator says his office is considering tougher cyber security requirements for banks with more complex computer sign-ins and certifications from their contractors of their defenses.

Department of Financial Services Superintendent Ben Lawsky says they are already revamping regular examinations of banks and insurance companies by adding targeted assessments of barriers against hackers.

Lawsky says he's "deeply worried" that within the next decade, or sooner, there will soon be "a major cyberattack aimed at the financial system" that could create a run or panic that spills over into the broader economy.

© 2015 AP

Dave Lucas is WAMC’s Capital Region Bureau Chief. Born and raised in Albany, he’s been involved in nearly every aspect of local radio since 1981. Before joining WAMC, Dave was a reporter and anchor at WGY in Schenectady. Prior to that he hosted talk shows on WYJB and WROW, including the 1999 series of overnight radio broadcasts tracking the JonBenet Ramsey murder case with a cast of callers and characters from all over the world via the internet. In 2012, Dave received a Communicator Award of Distinction for his WAMC news story "Fail: The NYS Flood Panel," which explores whether the damage from Hurricane Irene and Tropical Storm Lee could have been prevented or at least curbed. Dave began his radio career as a “morning personality” at WABY in Albany.
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