In the evolving state of cybersecurity, financial institutions grapple with the challenge of safeguarding their digital and financial assets against cyber threats. Cyber insurance has emerged as a critical component of risk management strategies. However, the...
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Integrating FFIEC Authentication Guidance: A Blueprint for Your Next Exam With Insights from Recent Regulatory Actions
The Federal Financial Institutions Examination Council (FFIEC) Authentication Guidance update in August 2021 has marked a significant step towards enhancing authentication and security access measures within financial institutions. This update expanded upon previous handbooks from 2005 and 2011, emphasizing a broader scope that now includes employees, third-party vendors, and system-to-system communications via APIs.
The Best Defense Against Ransomware
Beth Sumner, our VP of Customer Success, recently had the opportunity to discuss ransomware attacks and the importance of community bankers staying vigilant against these crimes in Independent Banker. While the number of ransomware attacks continues to increase, so do the sums demanded by the attackers.
Succession Planning: Essential for Sustaining Information Security
In today’s world where cyber threats evolve rapidly, the challenge of replacing an Information Security Officer (ISO) underscores a critical issue: the cybersecurity job market is scorching, yet talent is scarce. This gap has turned recruitment into a high-stakes game for financial institutions, where the departure of an ISO exposes vulnerabilities and regulatory risks. With remote work expanding the competition for skilled professionals, the importance of strategic succession planning has never been more acute, ensuring that institutions remain fortified even in the face of staffing changes.
Partnering for Peace of Mind and Effective Oversight
Pendleton Community Bank, a $700 Million Dollar Bank with 133 Employees in Franklin, WV, led by CEO Bill Loving, faced a critical challenge when their Information Security Officer departed, leaving a significant void in their oversight capabilities. Their goal was clear: establish an effective process for information security governance and cybersecurity oversight to ensure compliance and peace of mind.
Understanding R-SAT v2.0 – A Practical Guide for Information Security Officers: Part 3 of a 3 Part Series
Fostering a Culture of Security Through Education and Oversight As we wrap up our informative series based on the R-SAT v2.0 insights, we highlight not only the tactical applications of cybersecurity but also the strategic importance of cultivating a robust security...
Understanding R-SAT v2.0 – A Practical Guide for Information Security Officers: Part 2 of a 3 Part Series
Introduction: Streamlining Data Management in Cybersecurity Continuing our initial discussion in the 3-part series from the R-SAT v2.0, we turn to the core of data protection: data management. As an Information Security Officer, your role is pivotal in safeguarding...
Understanding R-SAT v2.0 – A Practical Guide for Information Security Officers: Part 1 of a 3 Part Series
Welcome to the first installment of our in-depth three-part series, building upon our November 14th webinar on the new Ransomware Self-Assessment tool (R-SAT v2.0). The new R-SAT was released by the Conference of State Bank Supervisors in mid/late October.
Navigating the Ransomware Minefield: Key Takeaways from the CSBS Report on Financial Institutions & R-SAT 2.0
A new version of the Ransomware Self-Assessment Tool (R-SAT v2.0) was published for banks to help mitigate new risks associated with ransomware attacks and identify security gaps. Learn more about these changes in our blog and how Finosec’s Governance 360 platform can help.
The Human Firewall: The First and Final Defense for Financial Institutions
What do you need to have an effective training program for cybersecurity training? Learn more in our blog.