(Bloomberg) -- The Federal Reserve Bank of Boston’s website crashed for less than a minute, brought down by a barrage of web traffic on May 12. When a hacker claimed responsibility on Twitter, it placed the attack as part of #OpIcarus, an assault the group Anonymous has been waging against global central banks.

In a world of escalating cyber risks, such hacktivist web page interruptions no longer top the Fed’s worry list. Of greater concern than reputation-damaging events such as website overloads are online criminals’ threats to conducting monetary policy and providing services to banks -- key central-bank functions that keep the heart of the U.S. financial system pumping.

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