Community banks and credit unions need to prepare for the more rigorous cybersecurity exams being implemented by banking regulators. These updated exams will likely scrutinize the security awareness efforts of all banks and credit unions. Due to that, many institutions need to look for ways to ensure that their executives and boards are educated about critical security issues.   In response to the constantly changing cybersecurity...

As a result of its recent cybersecurity assessments of more than 500 community banks, the Federal Financial Institutions Examination Council will review and update guidance to help banking institutions address changing cyber-risks. The financial infrastructure’s interconnectedness and increasing reliance on Internet-based systems and servers has opened the door for new cyberthreats.   Community banks need to ensure they are...

While account information is obviously important and needs to be protected, it’s not the only information that needs to be safeguarded. A recent breach at JPMorgan Chase brings attention to the importance of protecting all of your customer’s personal information. As part of the recent attack, hackers accessed personally identifiable information stored by Chase about some 76 million households and 8 million businesses. That means those hackers...

A new impersonation scheme known as masquerading is focusing on C-level executives to commit ACH and wire fraud. Federal authorities and researchers have been issuing warnings about these attacks. Masquerading involves hackers infiltrating e-mail networks to perpetrate fraud and cyber-espionage resulting in the takeover of a C-level executive’s e-mail account. The hackers then literally “masquerade” as the executive,...

As we all become more reliant on technology for everything from social engagements to business, the threats to the security of our information has increased dramatically. Due to the increased threat level, the Federal Financial Institutions Examination Council (FFIEC) has implemented a number of initiatives to raise awareness of cyber-security risks and the need for risk assessment and mitigation among financial institutions.   In order to...

The results of the U.S. Department of Health and Human Services’ (HHS) Office of Civil Rights (OCR) health information audit pilot program may be alarming to many health care providers, health insurers, and their business associates. OCR Senior Adviser Linda Sanches recently reported the results of the audits which were conducted by HHS-contracted KPMG.  The vast majority of the audited organizations failed to comply with mandatory...

We know that when it comes to IT security in the healthcare field there is a vast continuum from most to least secure. With different risk factors, budgets, needs and capabilities the IT security situation of each health care provider is unique. That said every provider needs to make sure that they’re at least taking the minimum steps in the immediate future to ensure that you’re not just a costly breach waiting to happen. There are two simple...

Mobile devices in the workplace present challenges for many businesses however, few industries have as much at stake when it comes to the value of the information and government regulation as the health care industry does. Here are six things to keep in mind when dealing with mobile devices in healthcare.   Create an updated inventory of mobile devices. Many healthcare providers don’t keep an accurate inventory of digital devices. Both...

If you currently allow, or are considering allowing, employees to use their own mobile devices for work purposes, there are some steps that need to be taken to ensure that you’re not at risk for expensive security breaches. By taking the following steps you will allow your employees to stay productive while mitigating risk and ensuring that you have plans and procedures in place in case something should happen: Create a coherent policy before...

The sweetheart scam has been around forever; lately it has a decidedly 21st century twist. The new schemes are relying on the prevalence of mobile banking and remote deposit capture. In these schemes the people perpetrating the fraud persuade their victims to provide them with account information, login information, or to open a new account that they can access. With that information the criminals then set up mobile access, usually with remote...