Sarbanes-Oxley (SOX) Blog
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The governor of New York State, Andrew Cuomo, announced Thursday comprehensive new cyber security regulations for the financial service industry, in an effort to improve cyber resilience within the financial sector and keep customer data safe.
Lloyds Bank was forced to go offline after a 48-hour Denial of Service (DDOS) attack crippled their systems and blocked access to 20 million UK accounts.
It’s no secret that the financial industry is the ideal target for lawless cyber criminals, holding a treasure trove of sensitive information and financial credentials of innocent victims.
On Tuesday, the New York State Financial Services regulator announced details about new cyber security guidelines for banks & insurance companies under its jurisdiction.
A recent study conducted by the Ponemon Institute for IBM found that human error is a leading cause of data breaches within the financial sector.
As attacks on the United Kingdom’s financial institutions have become increasingly commonplace, the Bank of England has now developed a cyber-attack simulation to test the bank’s preparedness for an attack.