Cybersecurity is top issue for bankers, but not for lawmakers

cybersecurity is top issue for bankers but not for lawmakers

Sumary of Cybersecurity is top issue for bankers, but not for lawmakers:

  • Exhibit A, they say, was a May 27 House Financial Services Committee hearing with the CEOs of the six largest banks..
  • He noted there also is action at the state level with the Conference of State Bank Supervisors issuing an updated cybersecurity exam tool in February to assess nonbanks..
  • Yet large banks routinely perform extensive vulnerability scans and penetration testing, two practices that analyze IT systems for vulnerabilities, according to a March report by Moody’s Investors Service abut banks’ cybersecurity strengths..
  • Small and medium-sized banks tend to be more vulnerable because they have less to invest in updated systems, experts said…

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