The financial-services industry continues to be targeted for cyber-attacks. Fortunately, the financial-services industry has incredibly robust protections. Over the past decade, the government and financial-services industry have forged a strong public-private partnership to protect the industry from such cyber-attacks. For example, government and industry have codified cybersecurity standards, including:
- Gramm-Leach-Bliley Act
- Sarbanes-Oxley Act
- Fair and Accurate Credit Transactions Act
- Payment Card Industry (PCI) Data Security Standard
- FFIEC Information Technology Examination Handbooks
Moreover, besides a bank's primary regulator, a host of other federal agencies are working to keep the industry safe, including the Department of Homeland Security, FBI and NSA. For specific information about these efforts, read this week's Fast Facts: Cyber Attacks. Contact Abby McCloskey, director of research, at Abby@fsround.org if you have any questions.