OPERATIONAL RISK

Cyber & Data Security

Prevention and risk mitigation are key components in every aspect of bank operations - the same holds true in the protection of customer data.

Cybersecurity is the prevention of damage to, protection of, and restoration of data, systems and processes. Cybersecurity has three main components, data security, user security, and infrastructure security.

Data security is the concepts or strategies used to keep data secure. Data security focuses on protecting personally identifiable information (PII) from unauthorized access as one would see during a cyber breach or other significant cyber incident.

Prevention and risk mitigation are key components in every aspect of bank operations - the same holds true in the protection of customer data.

Cyber and Data Security News

Supplemental guidance issued on SolarWinds attack

The Department of Homeland Security and Cybersecurity and Infrastructure Security Agency issued supplemental guidance to its alert for affected organizations to help mitigate exposure related to the supply chain attack on the SolarWinds Orion Platform.

The attack, which occurred between March and June 2020, pushed malicious code to an estimated 18,000 SolarWinds Orion customers, and has been linked to Russian hackers. CISA recommends that affected agencies must disconnect and rebuild affected systems, as well as look for other persistent malware that might now reside within impacted networks.

ICBA will continue to monitor developments and update its Cyber and Data Security resources section with the latest information.