The National Institute of Standards and Technology recently posed additional questions to ABA and other commenters in a follow-up to its draft 2022 report on cybersecurity considerations for open banking technology and emerging standards.
The Securities and Exchange Commission today released three proposed amendments to existing cybersecurity-related rules, including new customer notification requirements for data breaches.
Recognizing the significant threat posed by state cyber actors, as well as a deepening digital dependency on a global scale, the Biden administration this week released a national cybersecurity strategy.
As banks become increasingly reliant on third-party service providers, Federal Reserve Governor Michelle Bowman said bank regulators should “consider the appropriateness of shifting the regulatory burden from community banks to more efficiently focus directly on service providers.”
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More than 60% of global financial institutions with at least $5 billion in assets were hit by a variety of cyberattacks over the past year, according to a new survey by Contrast Security.
A federal program to assess IT and cyber risks at financial institutions has several significant flaws that could prevent it from working as intended, and as a result, may affect the insurance premiums paid by those institutions, the Office of Inspector General concluded in a report released this week.
Distributed denial of service attacks targeting financial institutions rose 22% last year, driven in large part by political motivations, according to a new report by the nonprofit FS-ISAC and cybersecurity firm Akamai.
Cybersecurity will be the top risk priority for most community banks over the next 18 months, with operational risk and compliance risk also high priorities, according to the ABA Banking Risk and Compliance Management 2023 Outlook survey released this week.