The Danger from Within: Banks Work to Combat Hackers Internally

While many companies work diligently to guard against external cyber threats, a number of banks are taking steps to protect themselves from another dangerous, yet equally damaging source — their own employees. According to the Association of Corporate Counsel, at least 30 percent of data breaches during 2015 were caused by seemingly harmless employee errors. To the unknowing employee, a simple click of the mouse could expose information or clues to those looking for an opportunity to breach even the most high-tech security systems.…
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NYDFS to Conduct Annual Cyber Assessments on NY Regulated Banks

Governor Andrew Cuomo of New York announced on May 6, 2014 that the New York State Department of Financial Services (NYDFS) would begin conducting “new, regular, targeted cyber security preparedness assessments of the banks [NYDFS] regulates.”  Governor Cuomo noted, Targeted cyber security assessments for banks will better safeguard financial institutions from attacks and secure personal bank records from being breached. When consumers sign up for online banking they expect their personal information to be secure and we are working to make sure financial institutions take…
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