GAO: FDIC suffers from weak information security controls

Wednesday - 8/17/2011, 9:29am EDT

Weak information security controls are putting financial systems at the Federal Deposit Insurance Corporation at risk, according to a new report from the Government Accountability Office.

The FDIC, the agency that guarantees the United States banking system, has failed to put in place a number of security measures, GAO found, including requiring strong passwords, reviewing user access, encrypting financial information, and protecting powerful database accounts and privileges from unauthorized use.

This story is part of Federal News Radio's daily Cybersecurity Update. For more cybersecurity news, click here.