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Exclusive: Federal Reserve computers hacked

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Business

Exclusive: Federal Reserve computers hacked

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COMING UP:Exclusive: Federal Reserve computers hacked

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Transcript

00:00:01
>> Not even the Federal Reserve is safe from cyber attacks. Computer systems at the world's most powerful central bank were compromised more than 50 times between 2011 and 2015, according to documents obtained exclusively by Reuters. The security lapses can range from the simple to the more nefarious, says Washington reporter Jason Lang.
00:00:24
>> It could be just somebody sending an email by accident to the wrong recipient. But it also can include hacking. And about eight of the reports include information disclosure and something that the cyber security staff classified as malicious code. And malicious code is basically a word in the cyber security incident for hacking.
00:00:49
>> The heavily redacted logs obtained by Reuters gave no indication of whether the cyber attacks resulted in any money or vital information being stolen, or revealed who was behind the breaches. But reports compiled by the Fed's team of cyber security experts working out of this building in New Jersey, indicate some of the incidents were serious enough to be considered espionage.
00:01:11
>> What we've been told by former employees and others is that espionage could mean a nation state, somebody like China, Russia, Iran, or it could be corporate espionage, it could be a company, or it could even be a private individual. It's basically anybody from outside of the Fed system that is trying to gain access to sensitive information.
00:01:37
>> Nail biting over cybertheft is on the rise after criminals successfully stole $81 million from the Central Bank of Bangladesh by gaining access through its computer. Unauthorized access to the Fed's systems and private monetary policy discussions could have dire consequences for the world's financial markets, which rely heavily on operations at the Fed.