FS-ISAC

MARCH 2, 2022

As a financial services cybersecurity professional who has worked on three continents for large multinational institutions, I understand the advantages and challenges for security departments at banks both large and small. Faced with increasingly sophisticated cyber attacks, small banks can use their size to their advantage.

Banking 59

Banking Cybersecurity Risk Reduction Financial Services 59

The Failover Plan Podcast

AUGUST 24, 2020

Jose has been leading BC programs at Peruvian companies within the pension funds, insurance and banking industries. . He has been leading BC programs at important Peruvian companies, such as Prima AFP (pension funds), Rimac Seguros (insurance company) and Interbank (bank). Links: Jose Garay- LinkedIn.

Business Continuity 130

Business Continuity Banking Insurance Insurance 130

everbridge

NOVEMBER 1, 2024

Messages provide advice on preparing property and ensuring personal safety, status updates and graphics tracking the hurricanes’ progress, Bank of Hawaii’s preparations and proactive measures, and emergency response plan reminders. Read more about Bank of Hawaii’s incident notification usage and get a sample message from Tropical Storm Hilda.

Banking 59

Banking Emergency Response Emergency Response Alert 59

MHA Consulting

AUGUST 6, 2024

Often, Operational Risk is seen to only be relevant to banks and the financial industry, but as you can see from the above three examples, this is not the case. A manager underestimates task complexity, which leads to a project over runs. Subsidence causes a building to be declared unsafe and everyone must evacuate.

Risk Management 52

Risk Management Management Telecommunications Outsourcing 52

Citrix

NOVEMBER 22, 2022

Related Stories How insurers can attract and retain the right talent How channel partners are architecting a seamless zero trust framework How banks can build better customer relationships with digital technology.

Financial Services 78

Financial Services Banking Insurance Insurance 78

MHA Consulting

AUGUST 6, 2024

Often, Operational Risk is seen to only be relevant to banks and the financial industry, but as you can see from the above three examples, this is not the case. A manager underestimates task complexity, which leads to a project over runs. Subsidence causes a building to be declared unsafe and everyone must evacuate.

Risk Management 40

Risk Management Management Telecommunications Outsourcing 40

The Failover Plan Podcast

DECEMBER 7, 2020

As an accomplished leader, he has recruited and managed teams of business continuity professionals to develop and manage resiliency programs for regional to global sized organizations with industry experience in Banking, Mortgage Lending, Insurance, Product Manufacturing, Supply Chain, and Direct Sales. .

Continuity Professionals 228

Continuity Professionals Crisis Management Business Continuity Disaster Recovery 228

Pure Storage

FEBRUARY 15, 2024

In fact, a recent analysis from Accenture found that banks are more likely to benefit from gen AI than any other industry with a potential productivity lift of 22%-30%. Credit Approval and Insurance Underwriting In today’s app-driven world, consumers expect instant or near-instant action. Another sign of the AI boom?

Financial Services 98

Financial Services Insurance Insurance Banking 98

Pure Storage

FEBRUARY 15, 2024

In fact, a recent analysis from Accenture found that banks are more likely to benefit from gen AI than any other industry with a potential productivity lift of 22%-30%. Credit Approval and Insurance Underwriting In today’s app-driven world, consumers expect instant or near-instant action. Another sign of the AI boom?

Financial Services 98

Financial Services Insurance Insurance Banking 98

Pure Storage

JANUARY 11, 2024

The UK Takes the Lead in Enforcement While the first OR directives were issued by the EU several months ahead of the UK, the latter has taken the lead when it comes to enforcement, issuing a nearly $60 million fine related to a resiliency incident at a UK bank in late 2022.

Resilience 117

Resilience Financial Services Banking Cybersecurity 117

MHA Consulting

MARCH 23, 2023

Collectively, these guidelines make up the FFIEC Business Continuity standard, whose purpose is to make sure the banks and other financial institutions that are required to follow it can continue to operate even if they are hit with a disruption.

BCM 95

BCM Impact Analysis Business Continuity Banking 95

Pure Storage

FEBRUARY 15, 2024

In fact, a recent analysis from Accenture found that banks are more likely to benefit from gen AI than any other industry with a potential productivity lift of 22%-30%. Credit Approval and Insurance Underwriting In today’s app-driven world, consumers expect instant or near-instant action. Another sign of the AI boom?

Financial Services 52

Financial Services Insurance Insurance Banking 52

Pure Storage

FEBRUARY 15, 2024

In fact, a recent analysis from Accenture found that banks are more likely to benefit from gen AI than any other industry with a potential productivity lift of 22%-30%. Credit Approval and Insurance Underwriting In today’s app-driven world, consumers expect instant or near-instant action. Another sign of the AI boom?

Financial Services 52

Financial Services Insurance Insurance Banking 52

Online Computers

JULY 14, 2023

In insurance, for instance, AI is already being used to automate claims processing and identify fraudulent claims. Insurance companies are also leveraging AI-powered chatbots to answer customer questions 24/7, freeing up customer service representatives to provide more in-depth support.

Advertising 52

Advertising Retail Healthcare Insurance 52

Plan B Consulting

APRIL 2, 2024

According to Lloyd’s, this event might be the biggest ever marine loss in the history of the insurance industry as the event was a ‘fully insured risk event’, meaning that the Francis Scott Key Bridge, the ship, the vessel’s cargo, and the port, were all covered.

Banking 52

Banking Insurance Insurance Mitigation 52

Pure Storage

MAY 13, 2024

The last year has seen such attacks hit Bank of America , Home Depot, T-Mobile , Okta , and Citrix. A model for regulation could be the EU’s Digital Operational Resilience Act (DORA) , which strengthens and standardizes IT security and compliance for financial entities such as banks, insurance companies, and investment firms.

Audit 52

Audit Banking Benchmark Application 52

Advancing Analytics

AUGUST 26, 2021

Besides that, the financial industry is a vast sector that includes banks, building societies, e-money institutions, mortgage companies, investment banking, credit unions, insurance and pension companies. Interestingly, the insurance sector has 100% live machine learning applications in use. Fraud Detection.

Financial Services 52

Financial Services Banking Insurance Insurance 52

Pure Storage

MARCH 25, 2024

FFIEC is an interagency body composed of the heads of the five federal banking agencies: the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau. While the U.S.

Financial Services 59

Financial Services Resilience Banking Risk Management 59

Fusion Risk Management

SEPTEMBER 12, 2022

Your customer may be subject to third-party outsourcing requirements by their own regulators , like the European Banking Authority’s Outsourcing Requirements , and they may ask to sign an addendum . Ability to Procure Cyber Insurance.

Resilience 52

Resilience Insurance Insurance Outsourcing 52

Pure Storage

FEBRUARY 21, 2024

Recently, the EU passed the Digital Operational Resilience Act (DORA) , which directs financial entities such as banks, insurance companies, and investment firms to strengthen IT security and take steps to increase resilience against operational disruptions.

Audit 52

Audit Insurance Insurance Architecture 52

Risk Management Monitor

MARCH 4, 2022

According to experts ranging from independent cybersecurity professionals to officials at the Cybersecurity and Infrastructure Security Agency (CISA), organizations at greatest risk right now include critical infrastructure , banks and other financial services firms, and of course key service providers in Ukraine or Russia.

Management 56

Management Malware Cybersecurity Insurance 56

Plan B Consulting

JULY 15, 2024

Trying to access large quantities of cryptocurrency to pay a ransom may be difficult, as you may have to go through multiple bank authorisation checks to obtain the necessary cryptocurrency. Most organisations that had cyber insurance were very positive about their interactions with cyber insurance providers.

Insurance 40

Insurance Insurance Continuity Planning Business Continuity 40

Online Computers

DECEMBER 21, 2023

Shadow IT can lead to noncompliance with the Health Insurance Portability and Accountability Act (HIPAA) or the Gramm-Leach-Bliley Act (GLBA) , resulting in large fines and legal issues. Our IT experts will customize a plan unique to your needs, and help you manage your business technology without breaking the bank. Interested?

Healthcare 52

Healthcare Malware Hazard Mitigation 52

Security Industry Association

NOVEMBER 24, 2023

banking customers who can open their bank accounts using a selfie. This transformation will span into various sectors, including finance, retail, telecommunications, sports, insurance and more. Notably, this evolution will facilitate the convergence of the physical and digital realms, encouraging interconnected technologies.

Authentication 52

Authentication Banking Telecommunications Cybersecurity 52

Pure Storage

MAY 5, 2022

On 9/11, swaths of companies’ data were lost that insurance claims wouldn’t cover. Like cash and banking, data storage isn’t meant to be a vault you can never access—it’s a living, breathing part of your infrastructure. It was a loss that paled in comparison to the tragedy but set in motion a massive shift all the same.

Banking 98

Banking Insurance Insurance Application 98

Reciprocity

AUGUST 15, 2022

The Federal Deposit Insurance Corp. In banking, for example, the FDIC, the Office of the Comptroller of the Currency (OCC), or the Consumer Financial Protection Bureau (CFPB) are stringent regulators that can impose high fines for compliance issues. FDIC), a primary U.S. Let’s look at several examples.

Management 52

Management Audit Banking Risk Management 52

FS-ISAC

MARCH 2, 2021

Bank accounts, investment accounts, mortgage accounts, insurance policies, utility bills, even frequent flyer numbers and gift cards: all rely on usernames and passwords and contain valuable financial data. the bank) does. These third-party companies may store and secure the same data that the originating data source (i.e.

Financial Services 52

Financial Services Banking Marketing Transportation 52

Fusion Risk Management

NOVEMBER 3, 2022

In tightly regulated industries like banking, Compliance Alert notes: “Chief Compliance Officers (CCOs) increasingly face personal liability for corporate wrongdoing and regulatory violations as a change of guidelines and a string of federal enforcement actions have transformed the environment in which CCOs operate.

Resilience 96

Resilience Mitigation Cybersecurity Risk Management 96

Reciprocity

SEPTEMBER 5, 2024

The equity risk premium (ERP) is the extra returns you can demand for taking on the risk of investment in the stock market rather than making a risk-free investment (say, in an insured bank savings account). What Are Some Methods for Managing Market Risk?

Marketing 52

Marketing Mitigation Risk Management Banking 52

FS-ISAC

MAY 25, 2021

Banks around the world are used to quantifying financial risks such as market, credit, and liquidity risks. At Banco de Credito de Peru, the largest bank in the country, we consider all non-financial risks together, as they are interrelated and require the same governance processes. We have known how to measure them for centuries.

Banking 52

Banking Cybersecurity Mitigation Risk Management 52

Castellan

MAY 26, 2022

The Financial Conduct Authority (FCA) , the Bank of England (BoE) , and the Prudential Regulation Authority (PRA) announced these new requirements a year ago to improve the operational resilience of financial services in the UK. Going forward, organisations are expected to operate within those impact tolerances.

Resilience 52

Resilience Financial Services Banking Business Services 52

Plan B Consulting

JANUARY 24, 2022

I was informed of a ransom demand of £905,000 which was exactly the amount the organisation had in their bank account. If possible, do not tell anyone you have cyber insurance If the attacker knows you have cyber insurance, they will know that as part of the policy the insurance company may pay the ransom instead.

Insurance 52

Insurance Insurance Banking Marketing 52

Plan B Consulting

JANUARY 24, 2022

I was informed of a ransom demand of £905,000 which was exactly the amount the organisation had in their bank account. If possible, do not tell anyone you have cyber insurance. If the attacker knows you have cyber insurance, they will know that as part of the policy the insurance company may pay the ransom instead.

Insurance 52

Insurance Insurance Banking Marketing 52

Titan Data Services

AUGUST 11, 2017

Every company needs insurance for data replication, restoration and recovery.” Titan is built to banking vault R-5 regulations and can take a direct shot from an EF-5 tornado. “Regardless of the size or scope of the business’ needs, Titan Data Services offers affordable options to protect companies’ systems and data,” Hamra said. “No

Disaster Recovery 40

Disaster Recovery Banking Insurance Insurance 40

Titan Data Services

AUGUST 11, 2017

Every company needs insurance for data replication, restoration and recovery.”. Titan is built to banking vault R-5 regulations and can take a direct shot from an EF-5 tornado. “Regardless of the size or scope of the business’ needs, Titan Data Services offers affordable options to protect companies’ systems and data,” Hamra said. “No

Disaster Recovery 40

Disaster Recovery Banking Insurance Insurance 40

FS-ISAC

JUNE 12, 2023

The Index is facilitated by long-time FS-ISAC sponsor Security Risk Advisors, but it is developed by a wide group of intel, red, and fusion center leads from retail banks, asset managers, fintechs and insurers. We call it the Index because it is a prioritized cross section of MITRE ATT&CK.

Benchmark 52

Benchmark Resilience Financial Services Publishing 52

FS-ISAC

JUNE 12, 2023

The Index is facilitated by long-time FS-ISAC sponsor Security Risk Advisors, but it is developed by a wide group of intel, red, and fusion center leads from retail banks, asset managers, fintechs and insurers. We call it the Index because it is a prioritized cross section of MITRE ATT&CK.

Benchmark 52

Benchmark Resilience Financial Services Publishing 52