Bank regulators phone lenders after Binance hack as new guidelines take effect

Federal Reserve and OCC supervisors started calling U.S. banks to check for vulnerabilities after the $6.3 billion Binance hack . On the same day the calls started, a new OCC and FDIC rule took effect, narrowing when examiners can force banks to fix cybersecurity flaws. When can banks be forced to fix cybersecurity issues? On Monday, November 2, supervisors from the Federal Reserve and the Office of the Comptroller of the Currency (OCC) began phoning banks asking if they had experienced any service disruptions or anything out of the ordinary on their systems. Several people familiar with the outreach described the calls, according to Reuters . One bank that took a call reported no interruptions.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.