Financial System:

Federal Oversight of Computer Security Needs to Be Strengthened

T-IMTEC-90-2: Published: Feb 21, 1990. Publicly Released: Feb 21, 1990.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed its examination of computer security and federal oversight over certain critical financial and banking computer systems. GAO noted that: (1) there were no instances of hacker or virus attacks on the systems; (2) all of the systems had internal control weaknesses that would allow undetected security intrusions; (3) two systems had security weaknesses that increased the operational security risks; (4) none of the systems had an information security program; and (5) the Securities and Exchange Commission needed to take a more proactive role in ensuring the integrity of the systems. GAO also noted that: (1) control and management weaknesses increased security risks to the banking systems; (2) there were no reported instances of fraudulent fund transfers; and (3) there are uncertainties about regulatory authority over the banking systems.

Sep 28, 2017

Aug 3, 2017

Jul 27, 2017

Jul 26, 2017

May 31, 2017

May 23, 2017

Apr 4, 2017

Mar 30, 2017

Mar 28, 2017

Feb 14, 2017

Looking for more? Browse all our products here