Tag Archives: cybersecurity

How to Use the FFIEC Cybersecurity Assessment Tool to Fortify Your Bank

banker using cybersecurity assessment tool

In a world teeming with digital threats, the banking sector isn’t just a target; it’s the bullseye. Every advanced cyber maneuver calls for an equally precise and proactive defense. After all, the stakes are high—your customers’ financial security and trust are on the line. That’s why the Federal Financial Institutions Examination Council (FFIEC) developed its […]

How to Build a Strong Cybersecurity Culture in Your Bank

employee doing cybersecurity training to create a security culture

Do you know how many of your employees would report it if they accidentally clicked a phishing link? Studies have found that 43% of employees don’t report incidents because they’re scared of the consequences, 36% assumed they didn’t need to report, and 32% of respondents simply forgot. How confident are you that your bank’s employees […]

How to Protect Your Bank: Key Takeaways from 2023 Cybersecurity Incidents

meeting to train bank employees about cybersecurity risks

The banking industry, revered for safeguarding critical financial data, has faced a barrage of cyber threats recently. These incidents, while alarming, help decision-makers like you identify emerging threats and stop them in their tracks. Let’s delve into the key takeaways from these events and explore actionable insights that banks can adopt to bolster their defenses. […]

Business Email Compromise Solutions: How to Safeguard Your Workforce

bank employee protecting against business email compromise

Tens of billions of emails are sent every single day. Not all of them have that document you’ve been waiting weeks to receive. In fact, an estimated 3.4 billion emails are sent by cybercriminals every day. But how often are they being opened? Phishing attacks have an open rate between 17% and 53%, depending on […]

Now is the time to implement multi-factor authentication

Cyber attacks are not slowing down. And with more and more people accessing company networks remotely, the problem is only getting worse. All it takes is one compromised credential or legacy application to cause a data breach. Now is the time to step up your security. Multi-Factor Authentication (MFA) is a security system that verifies […]

The Human Firewall

A recent study by a Security Awareness Training platform showed that the average rate at which employees of small banks clicked on phishing emails was 25% (the rate for bigger banks is even worse!).  Ransomware (malware that encrypts your data and only provides a decryption key if you pay a ransom) continues to be a […]

5 Ways Your Community Bank Can Be Threat Ready

A small lock sits in front of a credit card

What does it mean to be “threat ready” in an industry as sensitive as banking? The term is tossed around a lot. But what does that look like for your institution? In simple terms, being threat ready means having the right technology, trained staff, and proactive strategies in place to protect your bank’s assets from […]

Do Your Employees Know Password Best Practices? Strengthen Your Banks Security Starting From the Inside

notebook with passwords written on it using password best practices

In March of 2022, TransUnion South Africa announced that their records had been breached—the group that took responsibility for the hack claimed that they stole 54 million records. They also claimed that the server they hacked was protected with the word “password.” It’s the oldest security joke in the book but if what the hacking […]

The Real Cost of Cybercrime for Your Bank

person doing online banking

The hidden costs of a cyberattack are just that—hidden, below the surface, a ripple effect that can last for years to come. IT companies are quick to share stats about the average cost of a data breach (now at over $5 million) but what goes into those calculations? And is that just a loss of […]

5 Cybersecurity Misconceptions That Your Financial Institution Needs to Leave Behind

bank manager looking at laptop and updating his cybersecurity in banking policy

Cybersecurity in banking is a constant barrage of new threats, changing regulations, and customer worries. And your financial institution is a prime threat. Your business goes right to the source: the customer’s money! To protect your customers and your business, your cybersecurity needs to be top-notch. But there may be some banking misconceptions that are […]