To ensure that banks and regulators around the world can cooperate effectively on cybersecurity, the Basel, Switzerland-based Financial Stability Board today issued a proposed “cyber lexicon” to facilitate cross-border understanding and information sharing.
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A report issued by the Departments of Commerce and Homeland Security today called for widespread collaboration between government and industry stakeholders to combat the growing threat of botnets and other automated, distributed cyber threats.
The Federal Reserve will increase its focus on potential secondary cybersecurity risks posed by efforts to prepare for cyber threats, Fed Vice Chairman for Supervision Randal Quarles said at an industry event today.
The Financial Services Information Sharing and Analysis Center today unveiled an updated API — available to banks free of charge — to facilitate secure, tokenized transfer of customer data.
The Financial Crimes Enforcement Network will formalize FinCEN Exchange, a new forum to facilitate public- and private-sector information sharing on financial crimes data, Sigal Mandelker told the ABA/ABA Financial Crimes Enforcement Conference today.
A new paper released today by BAFT—ABA’s foreign transaction banking subsidiary—called for increased partnerships between public and private entities to help curb the use of trade transactions to move illicit funds through the financial system.
Thanks to hard lessons from Hurricane Katrina, banks today are more resilient than ever.
In a comment letter to the Consumer Financial Protection Bureau today, ABA offered several recommendations for protecting consumers’ financial information when it is being voluntarily shared with third party data aggregators.
The Financial Services Information Sharing and Analysis Center today unveiled its “Sheltered Harbor” initiative — an industry effort to improve sector-wide resilience in the face of a cyberattack.
Foreign banking organizations with U.S. operations need to ensure that their foreign operations are in compliance with U.S. anti-money laundering laws, a senior Department of Justice official said today at the ABA/ABA Money Laundering Enforcement Conference in Washington, D.C.