The FDIC and OCC put out a joint statement on heightened cybersecurity risk concerns. This ‘heightened’ concern has bubbled up from the concerns in the Middle East and specifically, Iran. In our nation’s history, oceans have been one of our primary defenses, but in today’s interconnected world, barriers for state-sponsored cyberattacks have been removed. I...
The FDIC and OCC put out a joint statement on heightened cybersecurity risk concerns. This ‘heightened’ concern has bubbled up from the worries in the Middle East and Iran. In our nation’s history, oceans have been one of our primary defenses, but in today’s interconnected world, barriers for state-sponsored cyberattacks are removed. In the past...
Upon the team’s completion of a full review, Finosec’s Zach Duke discusses key takeaways regarding effective cybersecurity controls as outlined in this Financial Institution Letter (FIL). Zach draws attention to some very specific points, such as changes in focus and emphasis on review frequency, as well as other important distinctions made in this issuance. Watch...
Hackers hack. It’s what they do. To some of them it is just a game. They want to see how much they can get away with, without getting caught. Hackers, or cybercriminals, use a variety of methods. They are creative. They are relentless. They keep trying until something works. Unfortunately for community banks, the game...
The FFIEC Management Handbook and best practices note that Information Security Management is critical to the overall success of the financial institution.  The ‘M’ (Management) function of the CAMELS rating system continues to expand into information security and cybersecurity.  The Management Handbook highlights the need for a Chief Information Security Officer (CISO), or for smaller institutions an information security officer.  “To ensure...