SEC Chair Calls for More Action to Guard Against Cyber Attacks

Cyber security is the biggest risk facing the financial system, the chair of the U.S. Securities and Exchange Commission (SEC) said, in one of the frankest assessments yet of the threat to Wall Street from digital attacks. Banks around the world have been rattled by a $81 million cyber theft from the Bangladesh central bank that was funneled through SWIFT, a member-owned industry cooperative that handles the bulk of cross-border payment instructions between banks.