Information Technology for Directors Q2 2021

April 13, 2021

Can Your Technology Keep Up?
There are more cyber security risks and competitive threats to traditional financial institutions than ever before. These increased risks are creating challenges for some institutions however they are also creating opportunities for others. Following is a review of the drivers of these risks and some thoughts on how to turn these risks into opportunities

Information Technology for Directors Q1 2021

January 18, 2021

70% of bankers said that cyber risk is the most important risk they face.

There has been a substantial increase in the number of cyber-attacks that impact the banking industry.

Harden Your Cyber-Defense by Reducing Your Attack Surface

January 14, 2021

Insight from BankOnIT

Defense strategists for millennia have relied on a straightforward tactic to create advantage against invaders: reduce the attack surface. That is, limit the number of different points where an enemy can potentially gain entry to attack.

Another Ransomware Event

November 23, 2020

A ransomware attack has impacted community banks and mortgage companies across the nation and compromised critical customer data held on-site at banks. The attack targeted an MSP that services banks and financial institutions, and exposed personal information including customer loan amounts, tax ID numbers, private emails, and credentials.

Information Technology for Directors Q4 2020

October 14, 2020

Cloud Delivering Faster Changes, Improved Cost-Control

Cloud computing delivered when banks needed to quickly move to Work From Home (WFH) and make rapid changes tomeet both employee and customer needs.

Regulatory Update: FinCEN and OFAC Issue Advisories

October 8, 2020

FinCEN and OFAC Issue Advisories Warning of Potential Bank Secrecy Act Violations in Conjunction with Ransomware Payments

The US Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) agencies both simultaneously released advisories warning of potential Bank Secrecy Act (BSA) violations and OFAC sanctions risks associated with ransomware payments related to malicious cyber-attacks. 

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