New York has toughest cybersecurity in US — and it’s still not enough - Business Insider
▻http://www.businessinsider.com/new-york-cybersecurity-regulations-protect-wall-street-2018-2
“Banks are especially vulnerable,” Matthew Waxman, a professor and the co-chair at Columbia University’s Cybersecurity Center, told Business Insider. “Disruption to the information systems on which banks rely could have shockwaves throughout the financial system, undermining public confidence in banking or knocking off line the ability to engage in commercial transactions.”
That’s the kind of catastrophic damage that worried the authors cited in Defense Secretary Rumsfeld’s 2001 memo.
They weren’t only concerned about stolen email addresses and social security numbers. They were worried about the fallout from such activity.
Banking works because consumers trust the system. But what if people lose trust?