In a statement today, the Federal Financial Institutions Examination Council highlighted a number of available standardized tools institutions can take advantage of to assess and improve their level of cybersecurity preparedness.
With several providers now offering security ratings—also known as risk scores or risk ratings—as a way to measure an organization’s level of cybersecurity, a new white paper by the American Bankers Association examines the pros and cons of these ratings systems and how they should be used by financial institutions.
In a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) today, Ranking Member Patrick McHenry (R-N.C.) today called for a hearing on cybersecurity and data protection in the financial services sector in response to concerns raised by industry leaders and recent data breaches.
As the Federal Trading Commission considers making changes to its existing standards for safeguarding customer information, ABA last week joined two other industry groups in a comment letter urging the commission to harmonize the changes with existing data protection rules.
With .bank URLs, banks are reclaiming their email channels from the fear of phishing as a trusted space to communicate internally and with their customers.
Midsize banks are at an inflection point: their ranks are growing as banking sector consolidation continues, and while these banks are ramping up their risk and compliance functions, they don’t need the same kinds of programs as the largest banks.
In a white paper released yesterday, the Federal Reserve System documented the current state of synthetic identity fraud and its effects on the payments industry.
Risk management and compliance considerations along the path of banking innovation.
On the latest episode of the ABA Banking Journal Podcast, CEO Brad Paige talks about “the first security enhancement that we’ve done that actually improved the customer experience.” The enhancement: digital voice authentication.
With the explosion in connected smart devices, bankers will see more opportunities to serve customers—and confront thornier risks—than ever before.