FFIEC Releases Cybersecurity Assessment Observations

The Federal Financial Institutions Examination Council (“FFIEC”) released observations culled from its recent cybersecurity assessment, and recommended that regulated financial institutions participate in the Financial Services Information Sharing and Analysis Center.

FFIEC members piloted the assessment in the summer of 2014 to evaluate the degree to which institutions were prepared to mitigate cybersecurity risks. The “FFIEC Cybersecurity Assessment General Observations” sets forth a number of general themes from the assessment, and offers questions that CEOs and boards of directors should consider when assessing their institutions’ cybersecurity preparedness.

See: FFIEC Cybersecurity Assessment General Observations; Cybersecurity Threat and Vulnerability Monitoring and Sharing Statement; FFIEC Press Release.

 

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