The Office of Inspector General said the Fed needs a more robust insider risk-management program to identify and manage risks posed by insiders to its information and assets.
The report comes a day after a former Fed official was sentenced Wednesday to more than three years in prison for lying to investigators about sharing confidential information outside of the central bank.
"Risks can also occur from within--for example, an employee who, knowingly or unknowingly, shares sensitive information with foreign operatives," the report said.
The Office of Inspector General said the Board lacks a process to identify its critical assets and a centralized program to proactively identify and manage insider risks at an enterprise level.
The report also said the Board lacks procedures for the timely sharing of pertinent information internally and with the Federal Reserve System, and enterprise-level policies and procedures establishing consistent incident response and reporting practices.
"We have nine recommendations that will contribute to developing a more robust insider risk-management program," the report said.
Write to Jessica Coacci at jessica.coacci@wsj.com
(END) Dow Jones Newswires
July 16, 2026 12:39 ET (16:39 GMT)
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