SWIFT Attacks Prompt US Banking Regulators to Tackle Cyber Security
Posted: Wed Aug 24, 2016 7:43 am
US banking regulators are focusing on cyber security risks and controls for financial institutions after attacks earlier this year involving the global financial network SWIFT.
According to Reuters, the regulators said that the US Treasury Department’s Office of the Comptroller of the Currency (OCC) is drafting guidance on interbank messaging and wholesale payment systems.
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Updated Guidance
Updated guidance is expected to be provided to US banking officials outlining key controls and risk management practices that should be assessed as part of supervisory oversight.
The OCC’s examination teams ... (read more)