Regulators and financial industry executives say the threat of cyberattacks is a major concern but that they are making progress with efforts to protect the system. The financial industry is spending millions of dollars to safeguard its networks and the government is sharing more intelligence with banks, according to officials. The threat has expanded "from fraudsters committing financial theft" to "hacktivists ... causing disruption to nation states" and "threatening serious data manipulation and destruction," BB&T CEO Kelly King said.

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