My good friend Tom Vartanian’s latest article in The Hill reminds us of the damage a cyber event could cause to the banking industry, especially after last week’s Bank of America glitch that showed twenty thousand customers’ account balance as $0. Tom makes an urgent call for regulation, governance, and enforcement of cyberspace.
From the article:
Without protective legislation, strong rules, cybercops, better security and tech-literate users, it seems inevitable that we wake one day to zero balances. The gut punch we will feel when that occurs may spur us to act, but it will be too late at that point.
You can read the full article here.