Trio of Hacks at Treasury Exposes Pattern That Has Banks Nervous

Cybersecurity woes are plaguing the US Treasury Department, deepening a rift between the agency responsible for protecting the integrity of the financial system and the banks it regulates.

Treasury has experienced three major hacks in the past five years, including two that have come to light since December. Meanwhile, its ranks of cybersecurity leaders have been decimated this year by departures pushed by Elon Musk’s Department of Government Efficiency, which the world’s richest person left in May.

A Bloomberg News review of previously unreported government documents and interviews with more than a dozen people — including current and former Treasury employees, bank executives and cybersecurity experts ...