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TSP Participants Could Be Vulnerable to Hackers, Auditors Say[/h]
The agency running the Thrift Savings Plan has not implemented the proper controls to prevent hackers from accessing its systems and potentially compromising the personal data of federal employee and retiree participants, federal auditors said on Monday.
Representatives from the Labor Department’s Employee Benefits Security Administration told the Federal Retirement Thrift Investment Board at its monthly meeting it was not progressing with fixes to potential security lapses quickly enough. Ian Dingwall, EBSA’s chief accountant, said many of the security issues have been identified for years but FRTIB has failed to resolve them.
Without updates, FRTIB “will not be able to prevent…unauthorized disclosure of the systems and data,” Dingwall said. There are significant holes in the agency’s mainframe and access management, he added, “collectively opening the agency to unnecessary risk.”
