Basel Committee: Permissionless blockchains pose ‘novel’ risk challenges for banks
Banks that engage in digital asset transactions face risks that may require new approaches to risk management, according to a...
Cybersecurity
FFIEC to sunset cybersecurity assessment tool in 2025
FFIEC will sunset its voluntary cybersecurity assessment tool because several new government and industry resources are available for financial institutions...
Ransomware in the financial sector
What to know and how to respond
ABA, associations: Ginnie Mae cyber incident reporting standards impractical to implement
A new policy requiring issuers and document custodians of Ginnie Mae mortgage-backed securities to notify the corporation within 48 hours...
Report: Average data breach cost for financial sector tops $6M
The average cost of a data breach for the financial sector rose roughly 3% over the past year to $6.08...
Inspector general report finds FHFA systems vulnerable to hacking
The Federal Housing Finance Agency’s information technology network has “serious vulnerabilities that increase the likelihood that hacking attempts will succeed,”...
NIST unveils encryption standards to protect against quantum computer cyberattacks
The National Institute of Standards and Technology announced that it has finalized a principal set of encryption algorithms designed to...
ABA, bankers associations offer recommendations for AI policy, risk management
Any new federal laws of artificial intelligence in the financial services sector should preempt state requirements and clearly exclude banks...
Survey: Many businesses report being targeted by deepfake fraud
More than one in five organizations said they have experienced payment fraud resulting from AI-driven deepfake or executive impersonation attacks,...
Fraud: Is seeing still believing?
The problem of identity scamming.
