Banking executives were among the CEOs who met with President Obama at the White House to discuss cybersecurity strategies. Paul Smocer of BITS explains how this discussion may pay off for financial institutions.
The Office of the Comptroller of the Currency is the first major U.S. banking regulator to issue updated guidance on third-party risks. What are the key tenets, and what should institutions expect next?
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
Despite the recent lull in al-Qassam Cyber Fighters' DDoS attacks against U.S. banks, the ABA's Doug Johnson and FS-ISAC's Bill Nelson warn banks to avoid complacency, noting that DDoS attacks pose an ongoing threat.
More than 1,000 banks will test their incident response strategies by participating in a simulated cyber-attack exercise. SWACHA's Dennis Simmons says the drill, which is open to more participants, will help bolster defenses.
Comptroller of the Currency Thomas Curry's comments in a Sept. 18 speech could be an early indication that regulators will put more pressure on banks and service providers to fill cybersecurity gaps, some observers say.