FFIEC Industry Outreach Webinar Announcement: Ransomware Trends

Webinar

Nov 2, 2021

1:00 pm Eastern | 12:00 pm Central | 11:00 pm Mountain | 10:00 am Pacific

The Federal Financial Institutions Examination Council (FFIEC) is offering an Industry Outreach webinar on Thursday, Nov. 18, 2021, that focuses on recent ransomware trends. The event is sponsored by the FFIEC Task Force on Supervision — Cybersecurity and Critical Infrastructure Working Group.

Ransomware incidents can severely affect business processes and leave organizations without the data they need to serve their customers.

Malicious actors have adjusted their ransomware tactics over time to include pressuring victims for payment by threatening to release stolen data if victims refuse to pay, and by publicly naming and shaming victims as secondary forms of extortion. The monetary value of ransom demands has also increased. These ransomware incidents have become more destructive and impactful.

This webinar will highlight current ransomware trends, and recently updated FFIEC statements about cyber preparedness and operational resilience as they relate to ransomware. This webinar will also include an overview of FinCEN’s analysis of recent ransomware-related incidents.

FFIEC Industry Outreach programs provide timely updates on issues affecting the financial industry.  The target audience includes representatives from financial institutions, trade associations, third-party providers, and consultants. 

Federal and state financial institution examiners are welcome to participate.  Participants can view presentation materials and listen to the discussion via computer or listen to the discussion via phone.

Who Should Attend?

Responding to a significant cybersecurity incident often takes an all-hands-on-deck approach. Participation in the workshop should include, but not be limited to, those responsible for the functions below:

  • IT management (e.g., Chief Information Officer, Director of Information Technology)
  • IT security policy, planning and governance (e.g., Chief Information Security Officer)
  • IT infrastructure and operations (e.g., network/system administrator, change manager)
  • Incident response (e.g., cyber incident responders, cybersecurity analysts)
  • Business operations (e.g., Chief Operations Officer)
  • Business continuity and disaster recovery planning (e.g., BC/DR manager)
  • Risk management (e.g., enterprise/operations risk manager)
  • Public relations (e.g., public affairs, media affairs)
  • Procurement and vendor management (e.g., contracts and legal support managers)

Disclaimer: Use of these materials by participants, including video and audio recording of this presentation, is strictly prohibited except by written permission of the FFIEC or its members. The views expressed in this presentation are individual views, intended for informational purposes, and are not formal opinions of, nor binding on, the FFIEC or its members.