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Fed criticized for letting information security risks fester

Original: Fed’s ‘collective lack of action’ let info security risks fester: OIG Governance of the central bank’s information secur

The Federal Reserve's Office of Inspector General says a collective lack of action by the central bank allowed information security risks to go unaddressed. According to the report, governance of the Fed's information security program and enforcement of controls lack clarity, leaving a 2024 security incident unresolved for more than a year.

Why now: A new OIG report faulting the Federal Reserve's security oversight is drawing attention.

Federal ReserveOffice of Inspector General

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Evidence

• Fed’s ‘collective lack of action’ let info security risks fester: OIG Governance of the central bank’s information security program and enforcement of controls lack clarity, resulting in a 2024 incident “remaining unresolved for over a year,” an OIG report said. https://www.… · AlexJimenez@mas.to · 2

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