Mary Jo White made the stark warning on cyber-security, or lack of it, at the Reuters Financial Regulation Summit over in Washington.

As we go out there now, we are pointing that out."

White also noted that the SEC is being active in reviewing cyber-security defences of the likes of brokers to ensure they are up to scratch.

Bangladesh Bank suffered from woeful security and lacked basic measures such as a firewall, and also used bargain basement $10 switches in its internal networks, all of which made it a much easier target than it should have been – and also meant it was much more difficult to trace those who pulled off the online heist.

Last week, global payments network Swift warned that a second bank had been hit by hackers using broadly the same tools and methods seen in the Bangladesh affair.

Many more banks, particularly those in developing nations, are at risk according to Swift, and they need to be seriously looking at their security measures.

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