I recently started a podcast called Complex Systems with Patrick McKenzie, covering topics like trading and the tech industry. A recent incident knocked out banking operations worldwide, affecting large U.S. banks. The issue was caused by a configuration bug in endpoint monitoring software called CrowdStrike Falcon, highlighting vulnerabilities in security tools. The incident had a significant impact on the economy, with many industries affected. Financial regulations often dictate the use of specific security tools, like endpoint monitoring. The CrowdStrike vulnerability led to cash shortages at many financial institutions, showcasing the importance of robust financial infrastructure. The history of financial system failures provides context for dealing with widespread disruptions.
https://www.bitsaboutmoney.com/archive/crowdstrike-bug-hit-banks-hard/