Banks and Brokerages defend against doomsday attack

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susze
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Joined: Sun Jul 27, 2008 2:26 pm

Banks and Brokerages defend against doomsday attack

Post by susze » Sun Dec 03, 2017 3:09 pm

I read this article in the wsj today about backs building a defense against cyberattacks. It says 60-70% of brokerages and banks are part of the sheltered harbor initiative.

Does anyone know if Fidelity and Vanguard are of Sheltered Harbor? Just wanted to know out of curiosity not sure if its a good or bad thing to be a member of this.

Thanks



https://www.wsj.com/articles/banks-buil ... 1512302401
Last edited by susze on Sun Jan 07, 2018 2:16 pm, edited 1 time in total.

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EyeYield
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Re: Banks and Brokerages defend against doomsday attack

Post by EyeYield » Sun Jan 07, 2018 1:58 pm

I couldn't read the WSJ article, but apparently a lot about the project is secret, as it should be, but I would (possibly wrongly) assume that the big brokerages would be a part of it.

An article about the Sheltered Harbor project is in today's LA Times.
It states, in part:
Sheltered Harbor’s members include the nation’s largest lenders, such as JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., as well as U.S. regional banks and some smaller firms (other names are secret like many other details). It’s a subsidiary of the Financial Services Information Sharing and Analysis Center, whose nearly 7,000 members range from multitrillion-dollar asset managers to retirement plan providers, insurers and other financial firms.
And:
Because some of the largest banks in the group operate major retail brokerages, data for those accounts already are included in the backups. Yet, organizers are still working out how to provide continuity for those operations.
http://enewspaper.latimes.com/infinity/ ... d399210d05
"The stock market is a giant distraction from the business of investing." - Jack Bogle

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