The US Federal Reserve is weighing whether to collect data on losses from cyber-related incidents from individual banks and share it on an anonymised basis, in a bid to help the industry improve risk management practices.
The move is part of a wider push by the regulator to tighten the way banks respond to cyber breaches. The Fed has already published a white paper on a classification system for cyber, which was the topic of a November 20 workshop hosted by the Federal Reserve Bank of Richmond.
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