Mitigation

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary report offers the latest on the Russo-Ukraine conflict, including a joint advisory on Russian state-sponsored cyber actors.

On March 9, 2022, President Joe Biden signed an executive order that outlines the administration’s strategy to address cryptoasset risks, develop a framework to promote responsible innovation and competition with digital assets, and conduct more research on the potential impacts of a digital dollar.

FS-ISAC said the rapid digitization of the financial services sector has led to an increase in global cyber threats in 2021, specifically cyberattacks targeting third-party suppliers and critical zero-day vulnerabilities.

The Senate passed the $1.5 trillion omnibus to fund the government through Sept. 30 with ICBA-advocated provisions related to the SBA’s 504 loan program, LIBOR, and cyber incident reporting.

The Securities and Exchange Commission and Commodity Futures Trading Commission announced separate charges related to digital asset-related fraud.

The Treasury and State departments announced additional sanctions on Russian individuals and companies for supporting the Russian government despite existing sanctions.