Don’t be spooked by cybersecurity: How to take proactive approach

Data breaches, cybercrimes, compliance – oh my! It’s a lot think about and manage, but there’s no need to get spooked by these looming priorities. October is Cybersecurity Awareness Month, and regardless of the prioritized objectives within your institution, a successful and secure future is all about key partnerships, collaboration, and education. Harness your resources to create a united front!

Cyber reporting

As the financial sector continues to advance technologically, the masked actors are keeping pace. Metaphorically speaking, like a who wore it best costume contest, financial institutions are being tasked with new requirements and contending with ever-evolving technology.

For example, specific to cyber reporting, these requirements (PDF download) by the OCC, Federal Reserve, and FDIC include timing in which a “notification incident” arises in relation to communicating to “each affected banking organization customer.”

 

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