Ben Bernanke sounds warning on cybersecurity

The ex-Fed chairman said hackers were near the top of his list of threats to the health of the global financial system and that the US central bank was breached many times.

Ben Bernanke sounds warning on cybersecurity

Former Federal Reserve chairman Ben Bernanke urged banks to spend more on bolstering their cybersecurity to fend off increasingly sophisticated attacks by hackers to vulnerable international networks. 

His comments follow high-profile hacks of major financial institutions such as JP Morgan and Standard Chartered. Bernanke underscored the vulnerability of the banking networks, which are rapidly digitizing, connecting to more banks and reaching across borders.

Cybersecurity fears have risen sharply among bankers, brokers...

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