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InvestmentsBanks ordered to promptly flag cybersecurity incidents under new rule By Reuters

Banks ordered to promptly flag cybersecurity incidents under new rule By Reuters


© Reuters. FILE PHOTO: A 3D-printed Cyber phrase standing on PC motherboard is seen on this illustration image, October 26, 2017. REUTERS/Dado Ruvic

WASHINGTON (Reuters) – U.S. banking regulators finalized a rule on Thursday that directs banks to report any main cybersecurity incidents to the federal government inside 36 hours of discovery.

The rule stipulates that banks should notify their main regulator of a big pc safety breach as quickly as attainable, and no later than 36 hours after its discovery.

Banks additionally should notify clients as quickly as attainable of a cybersecurity incident if it ends in issues lasting greater than 4 hours.

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