A recent assessment by the Office of the Comptroller of the Currency found that half of large American banks are underprepared for potential risks such as cyberattacks.
“Successful cyberattacks or major problems at one or more of the leading cloud-computing providers could leave lenders with weak risk management struggling to maintain basic functions.”
—Bloomberg columnist Paul J. Davies
What the recent CrowdStrike outage disrupting systems worldwide, what are the risks of a cyberattack or outage to major banking systems?
Click on the video link below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- Fortune: “Half of large U.S. banks are failing on operational risk, secret report finds”
- Bloomberg: “CrowdStrike Outage Is Another Sharp Warning for Banks”
- MarketWatch: “Gold keeps hitting fresh record highs. Here’s what could lift it closer to $3,000[/oz.].”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
