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Before You Read: This blog is about the original Cyber Incident Reporting Act and may contain outdated information. For an updated overview of the CIRCIA requirements, see our blog: A Financial Institution's Guide to CISA's Proposed CIRCIA Reporting Requirements.
Finding the right person to be your information security officer (ISO) can be a challenge. The person filling this role often wears many hats, most of which are critical to the ongoing success and security of your day-to-day operations. The value provided by an ISO is exactly what makes it all the more painful if they decide it's time to "start seeing other people."
Working in cybersecurity can be exhausting. Not only must Information Security Officers (ISOs) be well-versed in the ever-changing world of technology, but they must also be experts in security, compliance, communication, and the business itself. As a bonus, they get to do all of this while playing from behind the 8-ball, as malicious actors continually try to steal their thunder.
In a world increasingly affected by cyber-attacks (e.g., account takeover, compromised credentials, ransomware, etc.), multifactor authentication (MFA) is considered a strong technical control, although it is not without its challenges. In this article, we will discuss answers to the following questions:
In January 2021, we asked a group of 175 financial institution cybersecurity professionals if their organization had a formal incident tracking system.
At Tandem, we occasionally receive questions from our clients on the topic of an "IT audit risk assessment," most often in reference to an examination request list item. Where did this concept come from, what exactly is it, and how would you begin to conduct one? Let's find out.
On August 29, 2024, the FFIEC published a statement announcing the sunset of their Cybersecurity Assessment Tool (CAT). The tool will be sunset on August 31, 2025. Please take careful consideration of this announcement as you read this article.
To promote the security of payment systems, the Federal Reserve has an initiative in place called the FedLine Solutions Security and Resiliency Assurance Program. This program requires organizations who use FedLine services to (1) complete an assessment, (2) develop a remediation plan, and (3) submit proof of compliance with the security requirements to the Federal Reserve.
In our recent State of Cybersecurity survey, we set out to find any trends among U.S. financial institutions when it comes to budgeting for IT and cybersecurity. Insight from 237 responding cybersecurity professionals helped us see how financial resources are being used to increase the security posture of responding financial institutions.
Welcome to the first of our eight-part content series based on data pulled from our 2021 State of Cybersecurity Report. Earlier this year, Tandem surveyed more than 230 financial institution cybersecurity professionals and built a report with the latest information on the industry's current state of cybersecurity. Security and compliance experts from Tandem evaluated data collected from the survey and encountered several significant findings.