Cybsersecurity Starts at the Top
This summer, the Federal Financial Institutions Examination Council (FFIEC), made up of the FED Board of Governors and FDIC, among others, conducted a Cybersecurity Assessment at over 500 community financial institutions to evaluate their ability to handle cyber risks. While the data is still being analyzed in order to assist with future guidance and regulations, last month the FFIEC Cybersecurity Assessment’s “General Observations” were released.
What is striking about the General Observations, which are not to be construed as guidance, is that they call out…
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