The Financial Services Information Sharing and Analysis Center today unveiled its “Sheltered Harbor” initiative — an industry effort to improve sector-wide resilience in the face of a cyberattack.
Sheltered Harbor enables banks to store encrypted customer account information in secure “data vaults” so that it can be quickly accessed and restored after a cyber incident. In the event that an institution is unable to recover in a timely manner, Sheltered Harbor also allows data to be made available to customers through a service provider or other financial institution.
“This industry initiative will allow banks and important service providers to more fully support each other’s operations if necessary, increasing the security and convenience of customer accounts,” said ABA SVP Doug Johnson.
Led by FS-ISAC, Sheltered Harbor is a collaboration between a number of financial trade associations, including ABA. Participating institutions currently represent almost 60 percent of all U.S. retail banking and brokerage accounts.
Sheltered Harbor members have access to industry data storage and recovery standards, and are acknowledged as being “Sheltered Harbor Ready” once they have implemented the appropriate processes. As Sheltered Harbor becomes fully operational in 2017, FS-ISAC expects to see even greater industry-wide participation. For more information, contact ABA’s Doug Johnson.