The Federal Financial Institutions Examination Council today issued a new booklet providing guidance to help examiners assess the risk profile and adequacy of an entity’s information technology architecture, infrastructure, and operations.
Cautioning against “American susceptibility to boosterism and fear of missing out” leading to “occasionally impetuous, deluded crazes or fads,” Federal Reserve Vice Chairman for Supervision today raised several concerns about the purported benefits and “considerable risks” of developing a U.S. central bank digital currency.
New standards for vendors may ease banks’ due diligence responsibilities.
With ransomware attacks on the rise, the Biden administration yesterday called on corporations to take several “highly impactful steps” to help address these “serious” and “increasing” threats.
Nicole Kitowski started her career at Associated Bank as a teller in high school. Nearly three decades later, she brings that experience on the front lines to her role as Associated’s chief risk officer.
With projected economic growth expected to create a positive environment for bank performance in the remainder of 2021 and 2022, according to the OCC’s newly released Semiannual Risk Perspective, newly appointed Acting Comptroller Michael Hsu today said “it’s critical that bankers and their regulators guard against complacency.”
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
Almost half of data breaches in the financial services industry during 2020—44%—were the result of mostly accidental actions taken by internal actors, such as sending emails to the wrong people, which accounted for 55% of all error-based breaches, according to findings from Verizon’s latest global data breach investigations report.
Ransomware attacks are becoming more numerous, sophisticated and costly, especially during the COVID-19 pandemic.