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Cybersecurity › Vulnerability Assessments › Financial Institutions

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Troutman Pepper Locke

OCC Notifies Congress of Major Email System Security Breach

Troutman Pepper Locke on

On April 8, the Office of the Comptroller of the Currency (OCC) officially notified Congress of a significant information security incident involving its email system. This notification, mandated by the Federal Information...more

Quarles & Brady LLP

Warning! ChatGPT Exploit Used by Threat Actors in Cyber Attacks

Quarles & Brady LLP on

Members of the health care and financial industries, along with other industries that hold sensitive data, are warned that a ChatGPT vulnerability is being actively exploited by threat actors to attack security flaws in AI...more

Woodruff Sawyer

The Growing Cyber Risks in Fintech and How to Mitigate Them

Woodruff Sawyer on

The fintech revolution has reshaped the financial world, creating new opportunities to borrow, save, transact, and invest like never before. With no signs of slowing, fintech revenues are projected to grow sixfold from $245...more

Mintz - Antitrust Viewpoints

Treasury Department Warns Financial Institutions to Prepare for AI-Age Fraud — AI: The Washington Report

Mintz - Antitrust Viewpoints on

Pursuant to President Biden’s October 2023 AI executive order, the US Department of Treasury (Treasury) released a report on cybersecurity risks in the financial services sector in March 2024. While recognizing the...more

Burr & Forman

FINRA Urges Firms to Heed CISA/FBI “Shields Up” Warning on Russia

Burr & Forman on

The regular “Weekly Update” email from the Financial Industry Regulatory Authority (“FINRA”) had an eye-catching warning February 16, urging broker-dealer member firms to heed the “Shields Up” cyber threat warning from the...more

Polsinelli

Federal Banking Regulators Issue Rule Requiring 36 Hour Notice of Ransomware and Other Disruptive Cybersecurity Incidents

Polsinelli on

On November 18, 2021, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency issued a joint final rule to require banking...more

K2 Integrity

Targeted Cyber Frauds in Today’s Global Crisis

K2 Integrity on

You receive an email saying that due to COVID-19, a number of regularly scheduled meetings are moving to new dates and times. While hovering over the conveniently provided email link to your calendar, you notice the email...more

White and Williams LLP

Significant Vulnerability Discovered in Software Platform Serving Close to 2,000 Banks

White and Williams LLP on

KrebsOnSecurity recently reported a vulnerability found in perhaps little-known but widely used financial services software which powers the websites of thousands of banks. The exposure allowed even a mildly clever user to...more

Robinson+Cole Data Privacy + Security Insider

Opening a Bank Account with a Smartphone—Dodd-Frank Roll-Back Making Online Banking Easier

Robinson+Cole Data Privacy + Security Insider on

President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more

Hogan Lovells

A guide to NYDFS Cybersecurity Regulation's March 1 implementation deadline

Hogan Lovells on

It’s been almost a year since the New York State Department of Financial Services (NYDFS) Cybersecurity Regulation (23 NYCRR Part 500) came into effect. Since that time, a series of key dates have marked the implementation of...more

Ballard Spahr LLP

OCC Report Identifies Cybersecurity and AML as Key Risks for Federal Banking System

Ballard Spahr LLP on

Last week, the OCC released its semiannual risk report highlighting credit, operational, and compliance risks to the federal banking system. The report focuses on issues that pose threats to those financial institutions...more

Kramer Levin Naftalis & Frankel LLP

Funds Talk: May 2017 - CFTC Among Regulators Demanding Cybersecurity Vigilance

Kramer Levin Naftalis & Frankel LLP on

While the Securities and Exchange Commission (SEC) has garnered significant attention for its increased efforts and focus on regulating and enforcing enhanced cybersecurity measures within the U.S. financial markets, the...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on

Rating Agency Developments - On April 19, 2017, Fitch issued a report entitled Airport Operating Lease ABS Rating Criteria. On April 14, 2017, Fitch issued a report entitled North America and Asia-Pacific...more

Baker Donelson

Recent Government Cyber Alert and Draft Guide for Financial Institutions: Lessons for All Organizations

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All organizations, including financial institutions, continue to face significant security threats across their wide ranging IT systems. Such organizations are particularly vulnerable if they cannot track networked devices...more

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