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GAO: FinCEN, IRS Didn’t Do Enough to Safeguard BSA Data
By Brian Monroe
printTwo agencies at the U.S. Treasury Department have done a poor job protecting sensitive Bank Secrecy Act information from hackers and potential data breaches, a government watchdog said Friday. The Financial Crimes Enforcement Network (FinCEN) and Internal Revenue Service (IRS) can't ensure the "confidentiality, integrity and availability" of the tens of millions of regulatory filings submitted to the agencies annually by financial institutions as part of an effort to fight money laundering and terrorist financing, the Government Accountability Office (GAO) said. In particular, FinCEN didn't have a user password management system that could properly identify and authenticate users, and failed...
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