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GAO Finds Deficiencies in Systems for Handling National Debt

March 28, 2019

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IT systems at the Bureau of the Fiscal Service and the Federal Reserve Bank show vulnerabilities that could lead them open to exploitation and breach.

Two related reports from the General Accounting Office (GAO) point out significant issues with the IT systems involved in managing and servicing more than $22 trillion in federal debt. The reports — one a GAO financial audit of the Bureau of the Fiscal Service, and the other a management report on the Federal Reserve — each conclude that there are problems with the configuration and control systems within IT. And while those problems have not yet resulted in system breaches, according to the reports, they’re worthy of immediate attention and remediation.

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