More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. “I don’t think the solution to the cybersecurity problem rests in regulation,” Arthur Lindo, senior associate director of the …
Willis Towers Watson has launched CyFI, or “cyberinsurance and fidelity,” for financial institutions that addresses coverage gaps between cyberinsurance policies and fidelity bonds. As financial institutions evolve in the digital age and integrate new technologies into their operations, they increase …
ABA Insurance Services (ABAIS) launched a new cyber insurance product for banks that are insured through ABAIS to help them prevent, prepare for, and respond to data security incidents. BakerHostetler’s privacy and data protection team will provide legal services for …
The New York State Department of Financial Services (NYDFS) issued a report Thursday that found significant potential cybersecurity vulnerabilities with banks’ third-party vendors. New York regulators noted that banks rely on third-party vendors for a broad range of services — …
