Finally, we see that attackers gained access to banks’ systems by exploiting both technological vulnerabilities, such as missing IT security measures, and human ones, such as insufficient staff awareness. Although the number of reported cyber incidents has been rather low, I would not dare to conclude cyber threat levels are low, or even decreasing.
*  *  *  On behalf of the Federal Reserve System, I am pleased to be here at the first in a series of outreach meetings designed to hear your feedback and concerns about regulatory burden.