Jerome Powell On Severity Of Cyberattack Threats Facing American Banks: ‘You Have To Fight That Battle Every Day’

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On Sunday, Federal Reserve Chair Jerome Powell spoke about the ongoing cyber threats to American banks saying that massive resources are invested into ensuring the protection of financial institutions, which is not limited to just banks. What Happened: In an interview with CBS News 60 Minutes, Powell was asked “how great is the threat of a cyberattack on the American banking system?” In response Powell said, American banks, the government, and all supporters of the banking system are highly vigilant against cyberattacks. It represents a distinct risk compared to traditional concerns like makin…

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