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Remarks at the University of International Business and Economics, Beijing, China
Remarks at the University of International Business and Economics, Beijing, China.
Cybersecurity and the Federal Reserve
It is hard to get through a week without hearing about a new cybersecurity event that has affected an organization and its customers. These events impose costs and affect operations at institutions of all sizes. Efforts to disrupt an institution’s operations; to steal, corrupt, or destroy data and intellectual property; or to divert funds have become more prevalent. According to Boston Consulting Group, financial services firms are 300 times as likely as other types of companies to be targeted by a cyber attack.1 Just as the financial system is constantly evolving, so, too, are the ...