August 22, 2022 - Eric T. Young explains how banks can increase their risk of breach when they do not adopt a cybersecurity and information security controls plan. Multifactor authentication, password management and timely software updates are basic yet essential security measures. The Consumer Financial Protection Bureau and the New York State Department of Financial Services will soon be taking serious actions against those who do not implement these three security practices.
A subscription is required to access the whole article.