In the first six months of 2021, the Financial Crimes Enforcement Network identified $590 million in ransomware-related Suspicious Activity Reports, a 42% increase compared to the 2020 total of $416 million.
The OCC today released its bank supervision operating plan for fiscal year 2022, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1.
The top cybersecurity concerns for consumers regarding their personal information are identity theft and stolen credit or debit card information, according to a recent survey conducted by core technology provider CSI.
Today, you would be hard-pressed to find an average customer who doesn’t conduct their banking…
As part of its ongoing efforts to counter the growing threat of ransomware, the Treasury Department’s Office of Foreign Assets Control today released an updated advisory on potential sanctions risks for facilitating ransomware payments.
With ransomware attacks increasingly targeting significant infrastructure providers, it’s critical for banks to be prepared.
As banks work to build cyber resilience and ensure business continuity by joining Sheltered Harbor—an industry-led initiative created to protect customers, financial institutions and public confidence in banks in the event of a cyberattack—core provider Jack Henry announced that it now offers SecurePoint, a Sheltered Harbor solution designed to provide end users with timely access to their account balances and funds should critical systems and traditional backups fail.
In a joint letter to Senate Intelligence Committee leaders today, ABA and two financial trade groups said that several provisions in the Cyber Incident Notification Act of 2021 conflict with cybersecurity requirements already in place for financial institutions.
The FDIC today announced another “tech sprint” to evaluate how well banks can withstand a major disruption of any kind—from natural disasters to cyber incidents.
The Federal Financial Institutions Examination Council today issued a guidance for financial institutions on effective authentication and access risk management principles for digital banking services.