4 Tips For Banks To Fend Off Mounting Cyberthreats

By Allison Grande (September 24, 2012, 10:17 PM EDT) -- With Bank of America Corp. and JPMorgan Chase & Co. hacked just days after the FBI warned that they were vulnerable, financial companies will want to ensure they won't be held liable for not adequately safeguarding their systems and can take several simple steps to help minimize this risk, according to attorneys.

On Wednesday, industry group Financial Services Information Sharing and Analysis Center raised the cyberthreat level from "elevated" to "high" in an advisory to its members, citing "recent credible intelligence regarding the potential" for these attacks.

This move followed mysterious service outages at Bank of America and JPMorgan — which...

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