Remove Compliance Remove Cyber Security Remove Risk Management Remove System
article thumbnail

Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. Access controls and identity management. Systems and network security.

article thumbnail

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Risk Management. AI may be used to augment risk management and control practices. The challenge is to ensure that the software being developed is not coded with biases. Textual analysis.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Reduce your accounting firm’s cyber risks with these 8 actions

Abrigo

Demand for effective cyber risk management is so strong that the AICPA is developing common criteria for CPAs to use as they help clients evaluate their programs and efforts. I know a lot of people do not take security awareness seriously, but for Sageworks, the No. Test employee awareness and compliance.

article thumbnail

GRC best practices in a world under constant cyber threat

Insights on Business

In a world where cyber threat is constant, staying ahead of vulnerabilities is critical. It means ensuring your first line defense systems can flag and fix issues quickly and your second line defense is primed to step in when needed. Agenda: 5:00 – 5:30 pm Registration & Welcome.

article thumbnail

The FFIEC’s Architecture, Infrastructure, and Operations book

Cisco

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. Common AIO Risk Management Topics. Data governance and data management.

article thumbnail

Stop Throwing Money at Cybersecurity

Celent Banking

We continue to prove that the approach of the IT department managing cybersecurity is not working. Cyber risk is typically treated in parallel with other technology risks; the IT department is motivated to focus on securing the vulnerabilities of individual system components and proffers a micro view of security concerns.

article thumbnail

April 2014: A Busy Month for Fraud Alerts!

Jack Henry

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks.

Fraud 88