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From Nextgov: Banks urged to get faster at reporting cyber breaches
Witnesses say time is of the essence in notifying account holders of incidents, and imply Citigroup did not respond fast enough to a recent intrusion.
An industry group representing the largest financial institutions said banks hit by cyber intrusions should immediately notify federal officials and affected customers, amid controversy over Citigroup's decision to wait weeks before informing account holders of a significant breach.