With so much of the world's business taking place online, cybersecurity threats have become increasingly prevalent. Cyberattacks cost companies millions of dollars a year, and not every business can recover from an incident like a data breach or ransomware hoax. A cybersecurity risk assessment evaluates how potential weaknesses could impact your organization.
Topics: Cybersecurity, Network Security, Risk Assessment
In 1999, Congress passed the Gramm-Leach-Bliley Act, which requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.[1] The Act mandated the passage of the Safeguards Rule, which was promulgated by the Federal Trade Commission (FTC) in May 2002 and made effective May 2003.[2] In 2019, the FTC began working on amendments to the Safeguards Rule, and on December 9, 2021, the FTC finalized these amendments.[3] Depending on the classification of their financial institution, clients will need to understand the following rule changes and properly abide by the new FTC regulations.
Topics: Cybersecurity, Penetration Testing, Risk Assessment, Banking, Financial Institutions
As online and at-home banking options become more accessible, more online activity increases the risk of theft. Since 2021, IBM reported that the average cost of a breach rose from $4.24 million to $4.35 million.
Topics: Cybersecurity, Incident Response, SIEM, Risk Assessment, Banking, Escape Game