Information Security: Federal Deposit Insurance Corporation Needs to Improve Its Program, Report to the Board of Directors, Federal Deposit Insurance Corporation   [open pdf - 668KB]

From the GAO (Government Accountability Office) Highlights: "The Federal Deposit Insurance Corporation (FDIC) has a demanding responsibility enforcing banking laws, regulating financial institutions, and protecting depositors. The corporation relies extensively on computerized systems to support and carry out its financial and mission-related operations. As part of the audit of the calendar year 2005 financial statements, GAO [Government Accountability Office] assessed (1) the progress FDIC has made in correcting or mitigating information security weaknesses previously reported and (2) the effectiveness of the corporation's information system controls to protect the confidentiality, integrity, and availability of its key financial information and information systems. […] GAO recommends that the FDIC Chairman fully implement key elements of its agency-wide information security program. In providing written comments on a draft of this report, FDIC's Deputy to the Chairman and Chief Financial Officer stated that FDIC concurred with one of GAO's recommendations, partially concurred with three, and did not concur with one. FDIC also disagreed with GAO's assessment that its information system control weaknesses were sufficient to constitute a reportable condition."

Report Number:
Public Domain
Retrieved From:
Lessons Learned Information Sharing (LLIS)
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