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NIST Issues Final "Critical Infrastructure" Cybersecurity Framework

Feb
20
NIST Issues Final "Critical Infrastructure" Cybersecurity Framework

Last week, the National Institute of Standards and Technology (NIST) issued the final cybersecurity framework (Version 1.0), as part of the implementation of the President’s Executive Order on “critical infrastructure” cybersecurity. This voluntary framework is intended to improve U.S.

Posted By Sharon Bahr read more

Beware: Cyberattacks Update

Feb
04
Beware: Cyberattacks Update

For the past several months, some large financial institutions have been subject to cyberattacks and a number of credit unions have also been impacted in recent weeks.  These attacks are intended to disrupt financial institution websites and operations, and include distributed denial of service (DDoS) attacks, which involve directing a very high volume of traffic to disrupt websites. DDoS attacks do not involve data breach or hacking of a website’s content.

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Financial Services Sector Coordinating Council Discusses Cyber-Security

Dec
11
Financial Services Sector Coordinating Council Discusses Cyber-Security

Last week, Credit Union National Association (CUNA) staff attended the Financial Services Sector Coordinating Council (FSSCC) all-day meeting to discuss coordination efforts between federal government entities and the financial services sector on critical infrastructure, cyber-security, and crisis management.  Senior staff from the Department of Homeland Security, Treasury, and other government entities discussed current critical infrastructure initiatives and their ongoing

Posted By Sharon Bahr read more

FSOC "Systematically-Important" Financial Market Utilities; Fedwire & Payments System Risk

Jul
27
FSOC "Systematically-Important" Financial Market Utilities; Fedwire & Payments System Risk

On July 18, 2012, the Financial Stability Oversight Council (FSOC) issued a statement and designated eight “systemically important” financial market utilities (FMUs) that would be subject to heightened risk management standards.  Chairman Matz represents the National Credit Union Administration on the FSOC, which includes the U.S. Treasury, Federal Reserve Board, and other financial regulators.  However, the policies of the FSOC as currently developed do not apply to credit unions.

Posted By Sharon Bahr read more
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