‘Malicious Disruptions’ Threaten Financial System: Fed Official

A top Federal Reserve official warned on Tuesday of potential risks to financial stability from cyberattacks on the U.S. payments system and from a looming funding gap in public pensions.

Lockhart is the latest in a string of government officials and corporate executives who have warned of the potential danger of cyberattacks on the U.S. In October, Defense Secretary Leon E. Panetta warned that the U.S. faced the possibility of a “cyber-Pearl Harbor” from hackers who could dismantle the nation’s power grid, transportation system, and financial and government networks.