Bloomberg Law
April 27, 2021, 2:57 PM

Hacks Like SolarWinds Threaten Financial Stability, Agency Warns

Andrea Vittorio
Andrea Vittorio

New York’s financial regulator warned that the next financial crisis could come from a cyberattack like the recent SolarWinds Inc. incident that hits many targets at once.

“The SolarWinds attack confirms that cyber risks are a threat not just to consumers and individual companies, but also to the stability and soundness of our entire financial services industry,” the New York State Department of Financial Services said in a report released Tuesday.

Most companies impacted by the attack, which came to light in December, quickly disconnected vulnerable systems from their networks or patched the systems, according to a review of almost ...

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