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Federal Reserve Banks: Areas for Improvement in Computer Controls

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Report Type Reports and Testimonies
Report Date Oct. 14, 1998
Report No. AIMD-99-6
Subject
Summary:

The 12 Federal Reserve Banks have introduced effective computer controls overall. However, GAO found weaknesses in computer controls involving (1) access to systems, programs, and data, including unauthorized external access; (2) service continuity and contingency planning; and (3) access controls over some financial applications. Although these weaknesses do not pose significant risks to the financial systems of the Bureau of the Public Debt and the Financial Management Service, they do warrant attention from the Federal Reserve Banks to decrease the risk of inappropriate disclosure or modification of sensitive information or disruption of critical operations. The Federal Reserve Banks have corrected or are correcting the vulnerabilities that GAO identified.

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