Cybersecurity
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Cybersecurity and Your Board
As we prepare for National Cybersecurity Awareness Month, my colleague Sundeep Bablani shares his insights on how to management and Boards can manage this risk.
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PCI Compliance for Financial Institutions
Are you performing your PCI compliance scans? Are you storing credit card numbers in your core system, processing credit card payments, or have agreements with major card brands such as VISA or MasterCard? Check out this blog to ensure you are passing the PCI Data Security Standards.
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It is Not Too Late to Enhance Your Pandemic Plan
As we continue to navigate the challenging times brought on by COVID-19, financial institutions have been rightly focused on employee safety, customer service, and business continuity. But, regulatory statements released to date should remind all institutions of the importance of pandemic planning even as we are in the midst of the current crisis. Just because institutions have quickly adapted to the new realities they are facing, does not mean that additional challenges aren’t around the corner.
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New York State Guidance on Pandemic Planning May Signal Trend
On March 10, 2020, the New York Department of Financial Services (“NY DFS”) issued four separate industry letters providing guidance to state regulated financial institutions. These letters establish additional requirements to develop and maintain preparedness plans and complete other actions relating to COVID-19.
Since New York is currently the hardest hit state by the virus, these early actions could signal a trend that other agencies will follow as the outbreak progresses.
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Cybersecurity Controls Should Not Be Relaxed As Employees Work from Home
In the face of COVID-19, employers around the world are being challenged to design new ways to allow their employees to remain productive while working from home. Though financial institutions have long been on the forefront of technology, we have seen many institutions struggle to implement widespread work from home initiatives.