Understanding the Biden Administration’s Cybersecurity Executive Order
New standards for vendors may ease banks’ due diligence responsibilities.
Browsing: Data breaches
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.
ABA, Financial Groups Raise Concerns about Cyber Incident Notification Proposal
A new proposal by the federal banking agencies requiring that banks notify their primary regulator within 36 hours after developing a good-faith belief of a “computer-security incident” or “notification” incident could impose a significant reporting burden, ABA and three other financial trades cautioned in a letter yesterday.
ABA Files Amicus Brief in Support of Visa Merchant Data Breach Compensation Program
The American Bankers Association yesterday filed an amicus brief in the Texas state court case of Visa v. Sally Beauty Holdings.
Go Hack Yourself
As the scale of cyber breaches soars, banks are hiring their own specialty teams or contracting with vendors, all of whom have one mission: think like a constantly changing set of globally active bad actors.
ABA Data Bank: Banks Most Trusted to Keep Data Safe
New ABA/Morning Consult survey data shows that consumers trust banks most to keep their personal information safe.
What Compliance Needs to Know in the Event of a Security Breach
When a breach occurs, a bank’s compliance unit can be a valuable resource to help execute the incident response plan. Here’s how.
Rep. McHenry Calls for Hearing on Cybersecurity, Data Protection
In a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) today, Ranking Member Patrick McHenry (R-N.C.) today called for a hearing on cybersecurity and data protection in the financial services sector in response to concerns raised by industry leaders and recent data breaches.
California Updates Its Privacy Policy
Analyzing the Gramm-Leach-Bliley exception in California’s new privacy law—and its implications for banks.
Study: Consumers Increasingly Concerned with Data Security, Privacy
As consumers become increasingly concerned about privacy and data security, building trust with customers is paramount for successful companies, according to a new global survey from Verizon and Longitude.