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Apr
12

Insiders compromised FDIC data; GAO audit finds FDIC working to improve IT security

From: BiometricUpdate.com

Anthony Kimery

There have been a number of serious insider breaches at the Federal Deposit Insurance Corporation (FDIC), including a former “employee” who “copied “highly confidential components of three sensitive resolution plans onto an unencrypted USB storage device and took the information upon abruptly resigning,” according to an Office of Inspector General (OIG) report in the Government Accountability Office (GAO) auditor’s report on the results of GAO’s audits of the 2017 and 2016 financial statements for the two funds FDIC administers—the Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF).

In the above incident, OIG law enforcement officials subsequently recovered the USB device containing all of the exfiltrated data as well as a sensitive Executive Summary for a fourth resolution plan in hard copy. Based on the OIG criminal investigation, the employee was subsequently charged in the Federal District Court for the Eastern District of New York with theft of government property.

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