Big Banks Risk Revealed
More evidence you need to get off the grid and own gold!
This is an important follow-up to our recent post about the global IT shutdown that crippled banks, airlines, stock exchanges, retailers, and public safety operations.
The Office of the Controller of the Currency has found that many of the biggest U.S. banks are unprepared for cyberattacks and other serious operational risks.
According to Bloomberg News, a confidential OCC assessment discovered that 11 of the 22 large banks under its jurisdiction have an inadequate grasp of the risks they face and are insufficiently managed to handle them.
From the OCC report:
“Operational risk remains elevated as continuing cyberattacks and current geopolitical tensions contribute to a heightened risk environment. Cyberattacks continue to evolve and become more sophisticated and pervasive throughout the financial sector. Cyber risks pose significant financial sector and broader U.S. economy threats. It is essential that OCC banks maintain heightened threat monitoring and effective controls to safeguard against disruptive financial sector attacks.”
That report should add to the concerns for investors who have all their assets tied up in vulnerable institutions. It underscores our emphatic recommendation to make sure you have money – real money, gold, and silver – off the grid and at your immediate disposal.
Otherwise, you are at risk.
The Crowd Strike shutdown was the largest IT failure in history and should serve as an important wake-up call for our times. Other recent events underscore our warning. Only days ago, the SWIFT system for international trade and currency settlements was hit with an hours-long shutdown affecting high-value Bank of England and European Central Bank transactions across Europe.
Only recently revealed are details about a massive hack of AT&T records in 2022. NBC News reported that “A 2022 security breach compromised the data of ‘nearly all’ AT&T cellular network customers, with hackers stealing six months’ worth of call and text message records.”
The risks of cyber failure due to mismanagement, criminal, and even foreign attacks are only too real as these news stories reveal.
It is crucial to own gold and silver for your survival and wealth protection in emergencies. Real, actual physical metals you can get your hands on, not paper or title to metals held under unknown provenance. Speak with a Republic Monetary Exchange gold and silver professional today.