Data breaches

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

The rub is that the global messaging system's security is only as strong as the weakest link.

Hackers believed to be working from China accessed the computer systems of top officials at the Federal Deposit Insurance Corp., according to a top House lawmaker investigating the incident.

Officials from the Federal Reserve Bank of New York, Bangladesh Bank and payments network Swift vowed Tuesday to catch the thieves who took $81 million out of the Bangladesh central bank's account at the New York Fed.

WASHINGTON — Federal Deposit Insurance Corp. Chairman Martin Gruenberg has been called to testify on recent cybersecurity breaches in front of a House committee this month.

Cyberthieves using malicious software discovered by IBM Security have stolen $4 million from business customers of two dozen financial services providers this month, IBM said.

Data breaches have become scarily commonplace. But even small financial institutions can take action to thwart hackers and minimize losses.

A former Federal Deposit Insurance Corp. employee took off with data on some 44,000 customers of closed banks when she left the agency in late February, according to an agency memo uncovered by The Washington Post.

Hackers penetrated the computer network of a Verizon Communications subsidiary, but the company says it plugged the hole before much data was compromised.

Bangladesh's central bank has suggested the Federal Reserve Bank of New York had a "major lapse" in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg.