Joint Statement on Heightened Cybersecurity Risk Issued by FDIC and Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency are issuing this statement to remind supervised financial institutions of sound cybersecurity risk management principles. These principles elaborate on standards articulated in the Interagency Guidelines Establishing Information Security Standards as well as resources provided by the Federal Financial Institutions Examination Council (FFIEC) members, such as the FFIEC Statement on Destructive Malware. When financial institutions apply these principles and risk mitigation techniques, they reduce the risk of a cyber attack’s success and minimize the negative impacts of a disruptive and destructive cyber attack. While preventive controls are important, financial institution management should be prepared for a worst-case scenario and maintain sufficient business continuity planning processes for the rapid recovery, resumption, and maintenance of the institution’s operations.
Read the Joint Statement on Heightened Cybersecurity from FDIC and OCC
Additional Information and Tools Are Available Among LTAMS’ Cyber Fraud Resources