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.
With projected economic growth expected to create a positive environment for bank performance in the remainder of 2021 and 2022, according to the OCC’s newly released Semiannual Risk Perspective, newly appointed Acting Comptroller Michael Hsu today said “it’s critical that bankers and their regulators guard against complacency.”
Ransomware attacks are becoming more numerous, sophisticated and costly, especially during the COVID-19 pandemic.
A global pandemic, a struggling economy and a new administration throw wrenches into risk managers plans for the year ahead.
When asked about threats specifically targeting banks, Federal Bureau of Investigation Director Christopher Wray urged banks to be wary of “cyber criminals targeting the vulnerabilities in third-party services” as a way in to financial institution data.
The response to the coronavirus pandemic continues to shape the risk environment for banks, according to the OCC’s Semiannual Risk Perspective released today.
As financial services companies increasingly use mobile technologies in their day-to-day operations, an overwhelming majority—92%—agree that organizations need to take mobile device security more seriously, according to a new survey from Verizon.