Tandon in the News

Banks Unite to Battle Online Theft


Rising cybersecurity threats are pushing big banks to do something that doesn't come naturally for these secrecy-steeped institutions: share information with one another.

This month, security officials from Wall Street financial firms, including Morgan Stanley and Goldman Sachs Group Inc., are expected to meet with researchers from the Polytechnic Institute of New York University to discuss the creation of a new type of center that would sift through mountains of bank data to detect potential attacks, people familiar with the situation said.At the same time, Bank of America Corp. has begun hosting experts from other major banks at quarterly informal roundtables, in which the rivals try to devise solutions to cybersecurity threats.