Last week, we discussed the rules and regulations of the Federal Depository Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) that financial institutions must follow for their internet security program to be compliant. In the last of the two-part series, we review federal and state laws that govern bank and credit union cybersecurity programs.
Data privacy continues to be a growing concern for banks and credit unions, especially as more customers use their mobile devices to conduct financial transactions. Now is a good time to review your internet security plan to ensure that your bank or credit union website meets federal regulations and compliance. In this two-part series examining internet security for financial institution websites, we’ll review government standards, rules, and regulations for safeguarding data privacy on your website. This week, we delve into what regulatory bodies say about the topic.
With the recent Russian cyberattack affecting federal, state, and local government entities as well as corporations like Microsoft in the private sector, financial institutions must be more vigilant to protect their website networks. Cyberthreats can target any part of your system. Hackers can access your network through online actions by your employees, customers, and vendors. This week, we’re going to look at three common cybersecurity threats that cyber thieves will use to compromise your bank website: denial of service attacks, corporate account takeovers, and watering hole attacks.
In last week’s blog, we discussed three cybersecurity threats in 2020: attacks on the Internet of things (IoT), incidents caused by human error, and mobile and 5G vulnerabilities. In this second of the two-part series, we’re going to explore how to safeguard your digital assets from these and other cyber threats with a cybersecurity framework.