Read about the latest cybersecurity news and get advice on third-party vendor risk management, reporting cybersecurity to the Board, managing cyber risks, benchmarking security performance, and more.
In March 2017, the New York Department of Financial Services (NYDFS) cybersecurity regulations—known as23 NYCRR Part 500—went into effect. According to the regulation, “any Person operating under or required to operate under a license,...
In a report focused on cybersecurity in the banking and financial sector, BitSight researchers examined the security performance of more than 5,200 organizations in the Legal, Technology, and Business Services industries. These...
The financial services industry is known for its mature cybersecurity programs. There are many drivers for this, one being the increasingly strict regulatory environment. For example, the Office ofthe Comptroller of the Currency (OCC)...
The financial services sector has traditionally been viewed as highly mature when it comes to cybersecurity initiatives. In fact, this BitSight Insights report found that the financial sector had the highest Security Rating of all examined...
Financial regulators have long been concerned about the cyber risk associated with third-party- supplied products or services in financial institutions. For example, in 2013, federal financial regulators put out an issuance to financial...
Earlier this week I had the privilege of attending the invitation-only BNY Mellon 2015 Third Party Risk Management Symposium. The keynote speaker was General Keith Alexander, former Director of the National Security Agency. General...
Credit unions are facing increasing numbers of cyber attacks according to a survey for NAFCU’s October Economic & CU Monitor. This survey found that nearly 84% of respondents were operationally impacted by a local data breach within the...
