The statement is here, and is intended to provide additional awareness about the possible use of cyber insurance to off-set financial losses resulting from cyber incidents. Here are a few high-level observations: First of all, we’ve seen several announcements from various organizations stating that “the FFIEC has released new guidance…”. The statement makes it clear […]
The FFIEC Cybersecurity Assessment Tool has been out since 2015, and by now almost all financial institutions have completed it at least once, some as many as 3-4 times. Although most of the examiner feedback we’ve gotten indicates that simply completing is all regulators are looking for at this time, the FFIEC made it clear […]
The FFIEC recently released a long-awaited update to the Cybersecurity Assessment Tool, and we think overall it is a relatively minor but useful evolution. But before we get into the details of what the update does address, it’s important to note that it did not address the ambiguity issues that plague the current assessment. One […]
