A trio of U.S. Treasury hacks exposes a pattern making banks nervous

Cybersecurity woes are plaguing the U.S. Treasury Department, deepening a rift between the agency responsible for protecting the integrity of the financial system and the banks it regulates.

Treasury has experienced three major hacks in the past five years, including two that have come to light since December. Meanwhile, its ranks of cybersecurity leaders have been decimated this year by departures pushed by Elon Musk’s Department of Government Efficiency, which the world’s richest person left in May.

Bloomberg News reviewed previously unreported government documents and interviewed current and former Treasury employees, bank executives and cybersecurity experts about the hacks and worrying response.

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