Central Banking

Fed's Geithner on global payments challenges

In a speech on 'Challenges facing the global payments system' given on 14 October, Timothy Geithner of the Federal Reserve Bank of New York told the SIBOS 2004 Atlanta Conference more needs to be done by financial institutions to reduce the threat of cyber-attacks or terrorist attacks on their networks.

"The increased risk of terrorist attacks and increased sophistication of cyber-attacks on electronic networks have added new dimensions to the traditional concerns of safety and soundness and

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