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US Treasury failing to track cyber-defense efforts or set financial-sector priorities, GAO says

By Neil Roland ( September 18, 2020, 20:30 GMT | Insight) -- The US Treasury Department, which is responsible for coordinating cyber defenses in the financial sector, is failing to track efforts among banks, mutual funds and insurers — leaving the sector potentially exposed to increasing threats, a congressional watchdog said. The department, under Secretary Steven Mnuchin, also hasn’t set priorities for the $108 trillion financial industry’s attempts, nor has it developed ways to measure the sector's progress in meeting established goals, the Government Accountability Office report said.The US Treasury Department, which is responsible for coordinating cyber defenses in the financial sector, is failing to track efforts among banks, mutual funds and insurers — leaving the sector potentially exposed to increasing threats, a congressional watchdog said....

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