Cybersecurity insurance is an increasingly important component of your financial institution’s overall information security program. When a data breach or other hostile technology event occurs, cybersecurity insurance proceeds can provide funds to repair your hardware, recover intellectual property, and even pay for the work you do to reverse adverse reputational impacts.
Bank examiners and auditors constantly change their expectations. The result is you feel as if your information security practices are trying to hit a moving target while the boundaries shift constantly.
In a video released to FINOSEC Academy, Co-Founder and CEO, Zach Duke, poses some questions around the processes you currently have in place at your institution. Regardless of which department you think of first, it is likely that some outdated processes are still in place, and your information security and cyber security teams are no exception.
Have you addressed the Computer-Security Incident Notification Requirements for Banking Organizations? Full compliance has been extended to May 1, 2022. Five questions to ask: