ABA Releases Report on Understanding Cryptocurrency
The American Bankers Association today released a report on cryptocurrency for bankers that discusses its origins, uses, technological underpinnings and the industry surrounding it.
Browsing: Cybersecurity
FFIEC Issues New Booklet on IT Architecture, Infrastructure, Operations
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.
Fed’s Quarles Skeptical on Benefits of U.S. CBDC
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.
Understanding the Biden Administration’s Cybersecurity Executive Order
New standards for vendors may ease banks’ due diligence responsibilities.
Biden Administration Calls for Private Sector Action to Combat Ransomware Attacks
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.
What Banks Need to Know About Credential Stuffing and How to Stop It
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
Verizon Report: Accidental Internal Data Breaches on the Rise
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.
Fed: Banks Demonstrated Financial, Operational Resilience During COVID-19
Throughout the COVID-19 crisis, “the benefits of a resilient banking system have been evident” as banks’ “strong capital and liquidity positions” have enabled the pandemic recovery, the Federal Reserve said today in its supervision and regulation report.
Survey: Pandemic Spurs Interest in Opening Bank Accounts Online
The pandemic encouraged more people to consider opening a bank account online, according to a new FICO survey released today.
Department of Labor Issues Cybersecurity Guidance
The Department of Labor’s Employee Benefits Security Administration today issued long-anticipated guidance on cybersecurity and best practices for protecting retirement benefits.