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As horrifying cyberattack scenarios grow more plausible, an American Bankers Association simulation of a hypothetical breach at a $10 billion-asset bank is designed to guide institutions through a set of crisis response steps.
April 24 -
House lawmakers approved two bills this week to foster greater information sharing between the private sector and government about cyber threats and all eyes now turn to the Senate to see if legislation can finally be enacted.
April 23 -
The administration's new step empowers Treasury to freeze assets of those behind attacks that harm the U.S. financial system or other "critical" infrastructures.
April 1
Cybersecurity and anti-fraud measures are increasingly on the minds of financial services executives, and in their budgets.
A new series of reports from analytics and consulting firm Accenture found that nearly 90% of the 450 financial firms surveyed plan on increasing their spending in risk management related to cyber security and fraud detection and prevention.
Accenture surveyed 150 bank executives as part of the study. Of those, a majority 65% said they viewed cyber security as the risk most likely to become more severe in the next two years. Credit risk ranked second at 62%; fraud and financial crime ranked third at 61%.
