WASHINGTON—Since the start of the pandemic, banks have reported more sophisticated cyber-attacks, according to Lisa Arquette, associate director of the FDIC’s anti-money laundering and cyber fraud division.
The more sophisticated attacks are the result of several factors, Arquette said, including an increase in bank employees working remotely and more customers accessing digital banking services, ABA Banking Journal reported.
A specific threat the FDIC is currently prioritizing, she added, is potential cyberattacks stemming from the Russian invasion of Ukraine and the potential of hacking into U.S. institutions and ransomware attacks.
FDIC ‘Very Focused’
The FDIC is “very focused” on cyber-attacks—especially ransomware—Arquette said, noting the agency has cohosted a ransomware event for banks and it is encouraging institutions “to apply effective cybersecurity, risk management and mitigation principles to reduce the risk of cyber-attacks success and to minimize negative impacts.”
Arquette added malicious actors are attacking bank authentication security to gain access to customer information as well as deploy ransomware and initiate transactions, said Arquette. The effects of the attacks can disrupt core business activities, cause operational outages lock out business data and even force banks to switch to manual operations, she said.
Don’t Forget to Check the Spam Folder!
Don’t forget to check your Spam/Junk email folder if you didn’t receive your free, popular and daily CUToday.info news headlines on Monday.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.