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US Senate Committee Seeks Information on Cyber Breaches at Federal Reserve

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The US Federal Reserve needs to explain how it handles breaches of cyber security after hackers breached its networks more than 50 times in the past several years, the US Senate Committee on Science, Space and Technology said in a press release on Friday.

US President Barack Obama listens a question during a meeting with the U.S. Governors Association at the White House in Washington February 22, 2016. - Sputnik International
Obama Discusses Threats to US Economy With Federal Reserve Chief
WASHINGTON (Sputnik) — "[T]he Committee is interested in learning how NIRT [Federal Reserve’s National Incident Response Team] responds to security incidents, and how that group works to prevent threats from compromising information contained on the Federal Reserve’s systems," Committee Chairman Lamar Smith and Oversight Subcommittee Chairman Barry Loudermilk said in a letter mentioned by the press release.

More than 50 breaches between 2011 and 2015 were identified by NIRT, including four in 2012 that were considered acts of espionage.

"These reports raise serious concerns about the Federal Reserve’s cybersecurity posture, including its ability to prevent threats from compromising highly sensitive financial information housed on the agency’s systems," the letter noted.

Moreover, the lawmakers stated the Committee wants to conduct a briefing on all of the incidents, the Federal Reserve’s cybersecurity posture as well as all documents and information related to the breaches.

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