That cyber look

by: Steve Fochler

You know what I’m talking about don’t you? It’s when someone mentions Cyber Security and our faces get that blank stare look. This is then followed by a rush of fear that our financial institution is not secure. Don’t worry. It happens to all of us, even the technologically enabled (okay geeks) when we start talking about how policy and procedure is just as important as the flashing green lights on the firewall in the computer room.

Take a deep breath and exhale. This seems to work for me and hopefully it will work for you as well. Are you ready? Let’s talk about Cyber Security. Cyber Security is indeed a critical matter. But let’s call it what it is; another form of security. And our financial institution clients certainly understand security. It’s a part of their everyday life. Cyber Security is a little different in that it includes technical security in addition to physical security.

When we think of Cyber Security, we typically talk about internet security, firewalls, intrusion detection systems, and network monitoring systems which are critical to protect the perimeter of our networks. In addition, many of us outsource transaction processing to cloud based vendors. These vendors must prove to us they have these same technologies in place and manage them appropriately. Enter vendor risk management as a component of your cyber security program.

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