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FDIC: Banks Should Take Advantage of Government Cyber Security Resources

The FDIC said today that banks need to be subscribing to government services that provide up to the minute information on new cyber threats.

Given recent public attention on cyber security following last year’s retailer data breaches, banks should be utilizing all government resources available to help protect customers and stay alert for the latest threats, the FDIC said today in a public statement.

Banks of all sizes need to be aware of new cyber threats and government-sponsored resources that help identify them, the statement said.

“We believe that financial institutions and their technology service providers have been managing system updates to mitigate potential vulnerabilities in an effective manner… financial institutions may benefit from greater awareness of the resources available to identify cyber-related risks as quickly as possible,” Doreen Eberly, director of the FDCIC’s Division of Risk Management Supervision.

[For More On Recent Cyber Attacks, Check Out: Breaking Down the Impact of the Target Breach]

In addition to recommending that banks work closely with risk and security teams of their third-party partners, the FDIC listed a number of available resources that it said information security staff should be utilizing:

- United States Computer Emergency Readiness Teams (US-CERT). Run by the Department of Homeland Security, US-CERT helps coordinate information sharing around cyber threats and vulnerabilities through its Cyber Awareness System (NCAS).

- U.S. Secret Service Electronic Crimes Task Force (ECTF). ECTFg coordinates local, state and federal law enforcement with the private sector to help fight cyber threats.

- FBI InfraGard. A forum for sharing information between the FBI and the private sector, InfraGard has more than 60 chapters that host local meetings in their geography.

- Regional Financial Services Coalitions. Regional industry coalitions can help coordinate between the private sector and local law enforcement. Check here for groups in your region.

- Information Sharing and Analysis Centers (ISAC’s). ISAC’s can help provide incident alerts, response and mitigation and coordinate information sharing between different parties. Check out the National Council of ISAC’s to find out more.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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