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Federal regulators: Increasing cybersecurity stance on financial institutions

25
Oct
2016
Federal regulators: Increasing cybersecurity stance on financial institutions

credit-card-blue-cybraryEveryone is increasing the attention of cybersecurity given the continued parade of hacking incidents. Just last week, the three main prudential regulators for financial institutions—Office of the Comptroller of the Currency (OCC), Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC)—released new proposed cybersecurity risk mitigation standards called, Enhanced Cyber Risk Management Standards.

Cybersecurity is a critical aspect of all global financial transactions as the financial sector operates through a network of interrelated markets and financial participants that are in every country.

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