Tag Archive: "Cybersecurity"
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Payment Systems & Cybersecurity
In an effort to push more capabilities and flexibility to members and customers, financial institutions have embraced automated payment platforms such as FedLine and SWIFT. These services make it easy to exchange funds between individuals and businesses across the country and across borders. Naturally, with the expanded use of these technologies, the cybersecurity risks that correspond to these technologies increase as well. The risks not only threaten the institutions that use these services, but they threaten the organizations that provide them
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Cybersecurity Advisory Prompts Financial Institutions to Analyze Security and Continuity Measures
The Cybersecurity and Infrastructure Security Agency (CISA) recently issued a warning cautioning United States organizations of the heightened cybersecurity threats in the wake of conflicts between Russia and Ukraine. The CISA prompted financial regulators to instruct their financial institutions to reevaluate security and continuity planning. Regulators warn that the current cybersecurity threat landscape may exceed previously acceptable recovery arrangements.
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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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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.
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Impending “Unlimited” ATM Cashout Attack
The FBI has put all financial institutions on high alert for a global attack targeting ATMs.