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Since the effective date for the incident notification rule for banks, we have received several questions asking about whether an incident would be classified as a "notification incident" or not. For example:
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:
When you search the web for the "definition of risk," you will likely be greeted by a series of images which look something like this.
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.
In January 2021, the National Credit Union Administration (NCUA) published their 2021 Supervisory Priorities which stated, "The agency has reprioritized away from performing facilitated Automated Cybersecurity Evaluation Toolbox cybersecurity maturity assessments, to piloting the Information Technology Risk Examination for Credit Unions (InTREx-CU). […] ACET will become a self-assessment resource for credit unions, supported by the NCUA."
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.
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.
On June 30, 2021, the Federal Financial Institutions Examination Council (FFIEC) released a new Architecture, Infrastructure, and Operations (AIO) booklet, as part of their IT Examination Handbook. This new booklet supersedes and replaces the previous Operations (OPS) booklet, incorporating and expanding on information technology topics in the context of enterprise goals and objectives.
At Tandem, we recognize there are a few GRC (governance, risk, and compliance) solutions on the market. So, why should you pick Tandem? Based on feedback from individuals who have chosen Tandem, here are 10 reasons, in no particular order, why over 1400 organizations have chosen Tandem over other solutions.