Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com"

Transcription

1 Cybersecurity Governance Update: New FFIEC Requirements cliftonlarsonallen.com

2 Overview Up To Date Cybersecurity and Fraud Risks Current threat environment Industry examples and case studies FFIEC Cybersecurity Assessments and Governance Requirements Strategies to mitigate and manage risks 2

3 Cyber Fraud Risk Themes Hackers have monetized their activity More hacking More sophistication More hands on effort Smaller organizations targeted Social engineering on the rise Hackers targeting members and member businesses 3

4 Three Largest Cyber Fraud Trends Organized Crime Wholesale theft of personal financial information CATO Corporate Account Takeover Use of online credentials for ACH, CC and wire fraud Ransomware Your data held for ransom 4

5 Theft of PFI Target Home Depot Goodwill Jimmy Johns University of Maryland University of Indiana Neiman Marcus Dairy Queen Sally Beauty Harbor Freight Olmsted Medical Center Community Health Systems 5

6 Stolen Card Data Carder or Carding websites A peek inside a carding operation: inside aprofessional carding shop/ 6

7 Credit Card Data For Sale 7

8 Corporate Account Takeover Catholic church parish Hospice Finance company Main Street newspaper stand Electrical contractor Utility company Industry trade association Rural hospital Mining company On and on and on and on.. 8

9 CATO Lawsuits UCC a payment order received by the [bank] is effective as the order of the customer, whether or not authorized, if the security procedure is a commercially reasonable method of providing security against unauthorized payment orders, and the bank proves that it accepted the payment order in good faith and in compliance with the security procedure and any written agreement or instruction of the customer restricting acceptance of payment orders issued in the name of the customer. 9

10 CATO Lawsuits UCC Choice Escrow vs BancorpSouth $440,000 stolen via single wire through CATO CE passed on dual control offered by the bank Court ruled in favor of bank CE attorneys failed to demonstrate bank s procedures were not commercially reasonable 10

11 CATO Defensive Measures Multi layer authentication Multi factor authentication Out of band authentication Positive pay ACH block and filter IP address filtering Dual control Activity monitoring Manual vs. Automated controls 11

12 Ransomware Malware encrypts everything it can interact with i.e. anything the infected user has access to CryptoLocker Kovter Also displays and adds child pornography images May 20, 2014 Ransomware attacks doubled in last month (7,000 to 15,000) goes spearphishing infections soar warns knowbe4 a html 12

13 Ransomware Working (tested) backups are key 13

14 Keys to Successful Breaches

15 Keys to Successful Breaches Reliance/dependence on 3 rd party service providers is at root of most breaches 15

16 How do hackers and fraudsters break in? Amateurs hack systems, professionals hack people. Bruce Schneier Social Engineering relies on the following: The appearance of authority People want to avoid inconvenience Timing, timing, timing 16

17 Pre text Phone Calls Hi, this is Randy from Fiserv users support. I am working with Dave, and I need your help Name dropping Establish a rapport Ask for help Inject some techno babble Think telemarketers script Home Equity Line of Credit (HELOC) fraud calls Ongoing high profile ACH frauds 17

18 Attacks Spoofing and Phishing Impersonate someone in authority and: Ask them to visit a web site Ask them to open an attachment or run update Examples Better Business Bureau complaint usabetterbusiness bureaucall for action visa Microsoft Security Patch Download 18

19 Phishing Targeted Attack 19

20 Strategies to Combat Social Engineering (Ongoing) user awareness training SANS First Five Layers behind the people 1. Secure/Standard Configurations (hardening) 2. Critical Patches Operating Systems 3. Critical Patches Applications 4. Application White Listing 5. Minimized user access rights No browsing/ with admin rights Logging, Monitoring, and Alerting capabilities The 3 R s : Recognize, React, Respond More on this at the end 20

21 FFIEC Executive Leadership of Cybresecurity cliftonlarsonallen.com 21

22 Executive Order Improving Critical Infrastructure Cybersecurity February

23 Executive Order Improving Critical Infrastructure Cybersecurity Issued on February 12, 2013 The cyber threat to critical infrastructure represents one of the most serious national security challenges to the national and economic security of the US Enhance the security and resilience of the Nation's critical infrastructure Maintain a cyber environment that encourages efficiency, innovation, and economic prosperity while promoting safety, security, business confidentiality, privacy, and civil liberties. Partnership with the owners and operators of critical infrastructure 23

24 Executive Order Improving Critical Infrastructure Cybersecurity Definition of Critical Infrastructure Cybersecurity Information Sharing Privacy and Civil Liberties Protections Consultative Process Baseline Framework to Reduce Cyber Risk to Critical Infrastructure Voluntary Critical Infrastructure Cybersecurity Program Identification of Critical Infrastructure at Greatest Risk Adoption of Framework Updates to NIST Framework (CSF) 24

25 Executive Order Definition of Critical Infrastructure Systems and assets, whether physical or virtual, so vital to the United States that the incapacity or destruction of such systems and assets would have a debilitating impact on security, national economic security, national public health or safety, or any combination of those matters. 25

26 FFIEC Executive Leadership Cybersecurity Webinar May 7,

27 Cybersecurity Leadership FFIEC 27

28 Cybersecurity Leadership FFIEC 28

29 May 7, 2014 FFIEC Executive Leadership Cybersecurity webinar Importance of identifying emerging cyber threats and the need for Board/C suite involvement, including: Setting the tone at the top and building a security culture Identifying, measuring, mitigating, and monitoring risks Developing risk management processes commensurate with the risks and complexity of the institutions Aligning cybersecurity strategy with business strategy and accounting for how risks will be managed now and in the future Creating a governance process to ensure ongoing awareness and accountability Ensuring timely reports to senior management that include meaningful information addressing the institution's vulnerability to cyber risks 29

30 Cybersecurity Leadership FFIEC 30

31 Cybersecurity Leadership FFIEC 31

32 Cybersecurity Leadership FFIEC 32

33 Cybersecurity Leadership FFIEC 33

34 Cybersecurity Assessments July August

35 Current FFIEC IT Examination Process Each FFIEC agency (FDIC, Federal Reserve, OCC, NCUA) will perform periodic information technology examinations at regulated financial institutions. Examination procedures are based on the FFIEC IT Handbooks ( and supplemented by periodic agency guidance. IT Examinations review the financial institution s Information Security Program. 35

36 Information Security Program Section 501(b) of the Gramm Leach Bliley Act of 1999 (GLBA) for the safeguarding of customer information Board of Directors will develop an Information Security Program that addresses the requirements of: Section 501(b) of the GLBA; Federal Financial Institutions Examination Council s (FFIEC) Interagency Guidelines Establishing Information Security Standards (501[b] Guidelines); and Agency specific guidelines (i.e. Appendix B to Part 364 of the FDIC s Rules and Regulations) The Information Security Program (ISP) is comprised of: Risk Assessment Risk Management Audit Business Continuity/Disaster Recovery/Incident Response Vendor Management Board and Committee Oversight 36

37 Information Security Program Risk Assessment and Risk Management Assess risk periodically to identify reasonably foreseeable internal and external threats to data and information technology assets that could negatively impact confidentiality and integrity of data and/or availability of systems. Risk is determined based on the likelihood of a given threatsource s ability to exercise a particular potential vulnerability, and the resulting impact of that adverse event on the organization. The results of the risk assessment are used as a basis for establishing and implementing appropriate administrative, technical, and physical controls to reduce or eliminate the impact of the threat. 37

38 Information Security Program Audit ISP related Audits/Reviews ISP Review/IT General Controls Review External/Internal Vulnerability and Penetration Assessments Social Engineering Assessments E Banking Reviews ACH Audit Wire Transfer Audit Remote/Mobile Deposit Capture Audit Audit/Exam Recommendation Tracking and Reporting 38

39 Information Security Program Business Continuity/Disaster Recovery Incident Response Business Continuity/Disaster Recovery Plan Annual Testing of Critical Systems Annual Employee Tabletop/Scenario Testing Board Reporting Incident Response Plan Compromise of customer information Annual Testing FS ISAC Cybersecurity Examinations? 39

40 Information Security Program Vendor Management Vendor Management Policy Vendor Risk Assessment Access to Customer Information Criticality to Bank Operations Ease of Replacement New Vendor Due Diligence and Annual Reviews Continuous Monitoring 40

41 FFIEC Cybersecurity Assessments In the summer of 2014, the Federal Financial Institutions Examination Council (FFIEC) agencies piloted new Cybersecurity Assessment procedures at over 500 community financial institutions to raise awareness of and evaluate their preparedness to mitigate cybersecurity risks. Integrated into regular IT Examination process Cyber Risk Management and Oversight Cyber Security Controls External Dependency Management Threat Intelligence and Collaboration Cyber Resilience Launched a cybercrime website 41

42 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Threat and Vulnerability Monitoring and Sharing Statement (11/3/14) All FIs AND their critical technology service providers must have appropriate threat identification, information sharing, and response procedures. Recommendation to participate in the Financial Services Information Sharing and Analysis Center (FS ISAC) Improved identification and mitigation of attacks Better identification and understanding of specific vulnerabilities and necessary mitigating controls for systems Sharing information to help other FIs 42

43 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Threat and Vulnerability Monitoring and Sharing Statement (11/3/14) FI Management should: Monitor and maintain sufficient awareness of cybersecurity threats and vulnerability information so they may evaluate risk and respond accordingly Establish procedures to evaluate and apply the various types and quantity of cyber threat and vulnerability information to meet the needs of their organization FS ISAC: FBI Infragard: U.S. Computer Emergency Readiness Team at US CERT: cert.gov U.S. Secret Service Electronic Crimes Task Force: 43

44 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment General Observations Cybersecurity Inherent Risk Management must understand the FIs INHERENT RISK when assessing cybersecurity preparedness Connection Types: identify and assess the threats to all access points to the internal network VPN Wireless Telnet/FTP Vendor LAN/WAN access BYOD 44

45 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment General Observations Cybersecurity Inherent Risk (cont.) Products and Services: identify and assess threats to all products and services currently offered and planned Online ACH and Wire Transfer origination External funds transfers (A2A, P2P, bill pay) 45

46 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment General Observations Cybersecurity Inherent Risk (cont.) Technologies Used: identify and assess threats to all technologies currently used and planned Core systems ATMs Internet and mobile applications Cloud computing 46

47 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment General Observations Cybersecurity Preparedness Current cybersecurity practices and overall preparedness should include: Cybersecurity Controls: Preventive, detective, or corrective procedures for mitigating identified cybersecurity threats Patching, encryption, limited user access Intrusion detection/prevention systems, firewall alerts Formal audit program with scope and schedule based on an asset s inherent risk, prompt and documented remediation of findings, regular activity report reviews 47

48 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment General Observations Cybersecurity Preparedness (cont.) Cyber Incident Management and Resilience: Incident detection, response, mitigation, escalation, reporting, and resilience Formal Incident Response Programs, including regulatory and customer notification guidelines and procedures Senior management and board incident reporting 48

49 FFIEC Cybersecurity Assessments FFIEC Cybersecurity Assessment Implications? Increased Board and C Suite Involvement Participation in information sharing group(s) Cybersecurity scenario testing with employees and management Increased oversight of third party service providers Documentation on how FI is addressing the FFIEC Cybersecurity Assessment findings 49

50 Very Recent Examiner Supplemental Cyber Security Request List 50

51 Very Recent Examiner Supplemental Cyber Security Request List 51

52 Very Recent Examiner Supplemental Cyber Security Request List 52

53 Key Defensive Strategies cliftonlarsonallen.com 53

54 Strategies Our information security strategy should have the following objectives: Users who are more aware and savvy Networks that are resistant to malware Be Prepared Monitoring, Incident Response, and forensic Capabilities 54

55 Ten Keys to Mitigate Risk 1. Strong policies 6. Perimeter security layers 2. Defined user access roles Minimum Access 3. Hardened internal systems and end points 4. Encryption strategy data centered 5. Vulnerability management process 7. Centralized logging, analysis and alerting capabilities 8. Incident response capabilities 9. Know / use online banking tools 10.Test, Test, Test Independent validation that it works 55

56 Centralized Logging, Analysis, and Alerting Centralized audit logging, analysis, and automated alerting capabilities (SIEM) Firewalls Security appliances Routing infrastructure Network authentication Servers Applications *** Archiving vs. Reviewing 56

57 Call To Action Policies to set foundation Train your users Thoroughly assess your risks Three R s: Recognize, React, Respond Thoroughly validate your controls High expectations of your vendors Penetration testing Application testing Vulnerability scanning Social engineering testing People Tools ` Rules 57

58 Questions? 58

59 Jim Kreiser, CISA, CRMA, CFSA Principal Business Risk and Information Security Services cliftonlarsonallen.com twitter.com/ CLA_CPAs facebook.com/ cliftonlarsonallen linkedin.com/company/ cliftonlarsonallen 59

Cybersecurity Governance Update on New FFIEC Requirements

Cybersecurity Governance Update on New FFIEC Requirements Cybersecurity Governance Update on New FFIEC Requirements cliftonlarsonallen.com Our perspective CliftonLarsonAllen Started in 1953 with a goal of total client service Today, Professional Services Firm

More information

Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com

Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com Current Trends in Cyber Crime & Payments Fraud cliftonlarsonallen.com Our perspective CliftonLarsonAllen Started in 1953 with a goal of total client service Today, industry specialized CPA and Advisory

More information

Managing the Operational Risk of Our Bank

Managing the Operational Risk of Our Bank Managing the Operational Risk of Our Bank 1 Managing Operational Risk Has your organizational leadership ever made any of the following comments? The Board wants us to focus on risk management since we

More information

IT Security Risks & Trends

IT Security Risks & Trends IT Security Risks & Trends Key Threats to All Businesses 1 1 What do the following have in common? Catholic church parish Hospice Collection agency Main Street newspaper stand Electrical contractor Health

More information

By: Gerald Gagne. Community Bank Auditors Group Cybersecurity What you need to do now. June 9, 2015

By: Gerald Gagne. Community Bank Auditors Group Cybersecurity What you need to do now. June 9, 2015 Community Bank Auditors Group Cybersecurity What you need to do now June 9, 2015 By: Gerald Gagne MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2015 Wolf & Company, P.C. Cybersecurity

More information

Ed McMurray, CISA, CISSP, CTGA CoNetrix

Ed McMurray, CISA, CISSP, CTGA CoNetrix Ed McMurray, CISA, CISSP, CTGA CoNetrix AGENDA Introduction Cybersecurity Recent News Regulatory Statements NIST Cybersecurity Framework FFIEC Cybersecurity Assessment Questions Information Security Stats

More information

What is Management Responsible For?

What is Management Responsible For? What is Management Responsible For? Matthew J. Putvinski, CPA, CISA, CISSP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2011 Wolf & Company, P.C. About Wolf & Company, P.C Regional

More information

Cybersecurity: What CFO s Need to Know

Cybersecurity: What CFO s Need to Know Cybersecurity: What CFO s Need to Know William J. Nowik, CISA, CISSP, QSA PCIP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2014 Wolf & Company, P.C. Today s Agenda Introduction

More information

CYBERSECURITY HOT TOPICS

CYBERSECURITY HOT TOPICS 1 CYBERSECURITY HOT TOPICS Secure Banking Solutions 2 Presenter Chad Knutson VP SBS Institute Senior Information Security Consultant Masters in Information Assurance CISSP, CISA, CRISC www.protectmybank.com

More information

Cybersecurity Best Practices in Mortgage Banking. Article by Jim Deitch October 2015

Cybersecurity Best Practices in Mortgage Banking. Article by Jim Deitch October 2015 Cybersecurity Best Practices in Mortgage Banking Article by Jim Deitch Cybersecurity Best Practices in Mortgage Banking BY JIM DEITCH Jim Deitch Recent high-profile cyberattacks have clearly demonstrated

More information

Cybersecurity. Regional and Community Banks. Inherent Risks and Preparedness. www.bostonfed.org

Cybersecurity. Regional and Community Banks. Inherent Risks and Preparedness. www.bostonfed.org Cybersecurity Inherent Risks and Preparedness Regional and Community Banks www.bostonfed.org Disclaimer The opinions expressed in this presentation are intended for informational purposes, and are not

More information

PACB One-Day Cybersecurity Workshop

PACB One-Day Cybersecurity Workshop PACB One-Day Cybersecurity Workshop WHAT IS CYBERSECURITY? PRESENTED BY: JON WALDMAN, SBS CISA, CRISC 1 Contact Information Jon Waldman Partner, Senior IS Consultant CISA, CRISC Masters of Info Assurance

More information

ICBA Summary of FFIEC Cybersecurity Assessment Tool

ICBA Summary of FFIEC Cybersecurity Assessment Tool ICBA Summary of FFIEC Cybersecurity Assessment Tool July 2015 Contact: Jeremy Dalpiaz Assistant Vice President Cyber Security and Data Security Policy Jeremy.Dalpiaz@icba.org www.icba.org ICBA Summary

More information

CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS. Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015

CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS. Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015 CYBERSECURITY: PROTECTING YOUR ORGANIZATION AGAINST CYBER ATTACKS Viviana Campanaro CISSP Director, Security and Compliance July 14, 2015 TODAY S PRESENTER Viviana Campanaro, CISSP Director, Security and

More information

Top 10 Baseline Cybersecurity Controls Banks Aren't Doing

Top 10 Baseline Cybersecurity Controls Banks Aren't Doing Top 10 Baseline Cybersecurity Controls Banks Aren't Doing SECURE BANKING SOLUTIONS 1 Contact Information Chad Knutson President, SBS Institute Senior Information Security Consultant Masters in Information

More information

Cybersecurity Awareness. Part 2

Cybersecurity Awareness. Part 2 Part 2 Objectives Discuss the Evolution of Data Security Define and Discuss Cybersecurity Review Threat Environment Part 1 Discuss Information Security Programs s Enhancements for Cybersecurity Risks Threat

More information

Cybercrime and Regulatory Priorities for Cybersecurity

Cybercrime and Regulatory Priorities for Cybersecurity NRS Technology and Communication Compliance Forum Cybercrime and Regulatory Priorities for Cybersecurity Copyright 2014 by K&L Gates LLP. All rights reserved. Sean P. Mahoney sean.mahoney@klgates.com K&L

More information

Cybersecurity Issues for Community Banks

Cybersecurity Issues for Community Banks Eastern Massachusetts Compliance Network Cybersecurity Issues for Community Banks Copyright 2014 by K&L Gates LLP. All rights reserved. Sean P. Mahoney sean.mahoney@klgates.com K&L Gates LLP State Street

More information

Information Technology. A Current Perspective on Risk Management

Information Technology. A Current Perspective on Risk Management Information Technology A Current Perspective on Risk Management Topics Covered Information Security Program Common Examination Findings Existing and Emerging Risks ACH/Wire Fraud and Corporate Account

More information

Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks?

Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks? Cyber Security and your Financial Institution: Are you ready for the increased scrutiny related to cyber risks? August 27, 2014 Presented by: Terry Ammons, Partner, Porter Keadle Moore Tim Davis, Senior,

More information

Cybersecurity Awareness

Cybersecurity Awareness Awareness Objectives Discuss the Evolution of Data Security Define Review Threat Environment Discuss Information Security Program Enhancements for Cyber Risk Threat Intelligence Third-Party Management

More information

FFIEC Cybersecurity Assessment Tool

FFIEC Cybersecurity Assessment Tool Overview In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed the Cybersecurity Tool (), on behalf of its members,

More information

Get on First Base with your Regulators and Cyber Security

Get on First Base with your Regulators and Cyber Security Get on First Base with your Regulators and Cyber Security Secure Banking Solutions Chad Knutson 2 Presenter Chad Knutson VP SBS Institute Senior Information Security Consultant Masters in Information Assurance

More information

Data Breach Response Planning: Laying the Right Foundation

Data Breach Response Planning: Laying the Right Foundation Data Breach Response Planning: Laying the Right Foundation September 16, 2015 Presented by Paige M. Boshell and Amy S. Leopard babc.com ALABAMA I DISTRICT OF COLUMBIA I FLORIDA I MISSISSIPPI I NORTH CAROLINA

More information

Questions You Should be Asking NOW to Protect Your Business!

Questions You Should be Asking NOW to Protect Your Business! Questions You Should be Asking NOW to Protect Your Business! Angi Farren, AAP Senior Director Jen Wasmund, AAP Compliance Services Specialist 31 st Annual Conference SHAPE YOUR FUTURE April 23, 2013 Regional

More information

Information Technology

Information Technology Information Technology Information Technology Session Structure Board of director actions Significant and emerging IT risks Practical questions Resources Compensating Controls at the Directorate Level

More information

2015 CEO & Board University Cybersecurity on the Rise. Matthew J. Putvinski, CPA, CISA, CISSP

2015 CEO & Board University Cybersecurity on the Rise. Matthew J. Putvinski, CPA, CISA, CISSP 2015 CEO & Board University Cybersecurity on the Rise Matthew J. Putvinski, CPA, CISA, CISSP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2011 Wolf & Company, P.C. About Wolf

More information

Cybersecurity Awareness

Cybersecurity Awareness Awareness Objectives Discuss the Evolution of Data Security Define Review Threat Environment Discuss Information Security Program Enhancements for Cyber Risk Threat Intelligence Third-Party Management

More information

Cybersecurity and Other IT Related Focus Areas. Francis Tam, Partner

Cybersecurity and Other IT Related Focus Areas. Francis Tam, Partner Cybersecurity and Other IT Related Focus Areas Francis Tam, Partner Agenda Cybersecurity Payment Card Industry (PCI) Outsourced Cloud Computing 2 Cybersecurity $45 million cyberheist and ATM cash out scheme

More information

Small Firm Focus: A Practical Approach to Cybersecurity Friday, May 29 9:00 a.m. 10:15 a.m.

Small Firm Focus: A Practical Approach to Cybersecurity Friday, May 29 9:00 a.m. 10:15 a.m. Small Firm Focus: A Practical Approach to Cybersecurity Friday, May 29 9:00 a.m. 10:15 a.m. Topics: Explain why it is important for firms of all sizes to address cybersecurity risk. Demonstrate awareness

More information

September 20, 2013 Senior IT Examiner Gene Lilienthal

September 20, 2013 Senior IT Examiner Gene Lilienthal Cyber Crime September 20, 2013 Senior IT Examiner Gene Lilienthal The following presentation are views and opinions of the speaker and does not necessarily reflect the views of the Federal Reserve Bank

More information

Cybersecurity. Are you prepared?

Cybersecurity. Are you prepared? Cybersecurity Are you prepared? First Cash, then your customer, now YOU! What is Cybersecurity? The body of technologies, processes, practices designed to protect networks, computers, programs, and data

More information

Cybersecurity and Technology Update. Paul Rainbow, Information Security Supervisor, Umpqua Bank Francis Tam, Partner, Moss Adams LLP

Cybersecurity and Technology Update. Paul Rainbow, Information Security Supervisor, Umpqua Bank Francis Tam, Partner, Moss Adams LLP Cybersecurity and Technology Update Paul Rainbow, Information Security Supervisor, Umpqua Bank Francis Tam, Partner, Moss Adams LLP Agenda Cybersecurity Governance Threat Intelligence/Monitoring Vendor

More information

Cybersecurity: Protecting Your Business. March 11, 2015

Cybersecurity: Protecting Your Business. March 11, 2015 Cybersecurity: Protecting Your Business March 11, 2015 Grant Thornton. All LLP. rights All reserved. rights reserved. Agenda Introductions Presenters Cybersecurity Cybersecurity Trends Cybersecurity Attacks

More information

Defending Against Data Beaches: Internal Controls for Cybersecurity

Defending Against Data Beaches: Internal Controls for Cybersecurity Defending Against Data Beaches: Internal Controls for Cybersecurity Presented by: Michael Walter, Managing Director and Chris Manning, Associate Director Protiviti Atlanta Office Agenda Defining Cybersecurity

More information

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder Ten Questions Your Board Should be asking about Cyber Security Eric M. Wright, Shareholder Eric Wright, CPA, CITP Started my career with Schneider Downs in 1983. Responsible for all IT audit and system

More information

CYBERSECURITY INVESTIGATIONS

CYBERSECURITY INVESTIGATIONS CYBERSECURITY INVESTIGATIONS Planning & Best Practices May 4, 2016 Lanny Morrow, EnCE Managing Consultant lmorrow@bkd.com Cy Sturdivant, CISA Managing Consultant csturdivant@bkd.com Michal Ploskonka, CPA

More information

What Directors need to know about Cybersecurity?

What Directors need to know about Cybersecurity? What Directors need to know about Cybersecurity? W HAT I S C YBERSECURITY? PRESENTED BY: UTAH BANKERS ASSOCIATION AND JON WALDMAN PARTNER, SENIOR IS CONSULTANT - SBS 1 Contact Information Jon Waldman Partner,

More information

Click to edit Master title style

Click to edit Master title style EVOLUTION OF CYBERSECURITY Click to edit Master title style IDENTIFYING BEST PRACTICES PHILIP DIEKHOFF, IT RISK SERVICES TECHNOLOGY THE DARK SIDE AGENDA Defining cybersecurity Assessing your cybersecurity

More information

Cyber Security, Fraud and Corporate Account Takeovers LBA Bank Counsel Conference December 2014

Cyber Security, Fraud and Corporate Account Takeovers LBA Bank Counsel Conference December 2014 Cyber Security, Fraud and Corporate Account Takeovers LBA Bank Counsel Conference December 2014 Lisa D. Traina, CPA, CITP, CGMA Lisa Traina utilizes her 30+ years of experience as a CPA, CITP and CGMA

More information

Payment Fraud Trends

Payment Fraud Trends 2013 CliftonLarsonAllen LLP Payment Fraud Trends How to Protect my Business Customers from Payment and Corporate Account Take Over CLAconnect.com CliftonLarsonAllen Started in 1953 with a goal of total

More information

Cyber Security 2014 SECURE BANKING SOLUTIONS, LLC

Cyber Security 2014 SECURE BANKING SOLUTIONS, LLC Cyber Security CHAD KNUTSON SECURE BANKING SOLUTIONS 2014 SECURE BANKING SOLUTIONS, LLC Presenter Chad Knutson Senior Information Security Consultant Masters in Information Assurance CISSP (Certified Information

More information

Cybersecurity Workshop

Cybersecurity Workshop Cybersecurity Workshop February 10, 2015 E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. 150 West Main Street, Suite 2100 Norfolk, VA 23510 (757) 624-3153

More information

Network and Security Controls

Network and Security Controls Network and Security Controls State Of Arizona Office Of The Auditor General Phil Hanus IT Controls Webinar Series Part I Overview of IT Controls and Best Practices Part II Identifying Users and Limiting

More information

THE CHANGING FACE OF CYBERCRIME AND WHAT IT MEANS FOR BANKS

THE CHANGING FACE OF CYBERCRIME AND WHAT IT MEANS FOR BANKS THE CHANGING FACE OF CYBERCRIME AND WHAT IT MEANS FOR BANKS David Glockner, Managing Director strozfriedberg.com Overview The big picture: what does cybercrime look like today and how is it evolving? What

More information

Cybersecurity. WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI

Cybersecurity. WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI Cybersecurity WBA Bank Executives Conference February 2 4, 2015 Milwaukee, WI Dr. Kevin Streff Founder: Secure Banking Solutions, LLC www.protectmybank.com Goals Understand IT cybersecurity law and regulation

More information

Information Security for the Rest of Us

Information Security for the Rest of Us Secure Your Way Forward. AuditWest.com Information Security for the Rest of Us Practical Advice for Small Businesses Brian Morkert President and Chief Consultant 1 Introduction President Audit West IT

More information

Instructions for Completing the Information Technology Officer s Questionnaire

Instructions for Completing the Information Technology Officer s Questionnaire Instructions for Completing the The (Questionnaire) contains questions covering significant areas of a bank s information technology (IT) function. Your responses to these questions will help determine

More information

SECURING YOUR SMALL BUSINESS. Principles of information security and risk management

SECURING YOUR SMALL BUSINESS. Principles of information security and risk management SECURING YOUR SMALL BUSINESS Principles of information security and risk management The challenge Information is one of the most valuable assets of any organization public or private, large or small and

More information

Logging In: Auditing Cybersecurity in an Unsecure World

Logging In: Auditing Cybersecurity in an Unsecure World About This Course Logging In: Auditing Cybersecurity in an Unsecure World Course Description $5.4 million that s the average cost of a data breach to a U.S.-based company. It s no surprise, then, that

More information

White Paper on Financial Industry Regulatory Climate

White Paper on Financial Industry Regulatory Climate White Paper on Financial Industry Regulatory Climate According to a 2014 report on threats to the financial services sector, 45% of financial services organizations polled had suffered economic crime during

More information

Simplifying Security & Compliance Innovating IT Managed Services. Data Security Threat Landscape and IT General Controls

Simplifying Security & Compliance Innovating IT Managed Services. Data Security Threat Landscape and IT General Controls Simplifying Security & Compliance Innovating IT Managed Services Data Security Threat Landscape and IT General Controls Audit Standards and IT General Controls General IT controls discussed in AUC Section

More information

DNA of Cybersecurity Risks. Credit Union Executive Leadership Symposium

DNA of Cybersecurity Risks. Credit Union Executive Leadership Symposium DNA of Risks Credit Union Executive Leadership Symposium CUNA Mutual Group Proprietary Reproduction, Adaptation or Distribution Prohibited 2016 CUNA Mutual Group, All Rights Reserved. What s in store for

More information

Cybersecurity Enhancement Account. FY 2017 President s Budget

Cybersecurity Enhancement Account. FY 2017 President s Budget Cybersecurity Enhancement Account FY 2017 President s Budget February 9, 2016 Table of Contents Section 1 Purpose... 3 1A Mission Statement... 3 1.1 Appropriations Detail Table... 3 1B Vision, Priorities

More information

IT AUDIT WHO WE ARE. Current Trends and Top Risks of 2015 10/9/2015. Eric Vyverberg. Randy Armknecht. David Kupinski

IT AUDIT WHO WE ARE. Current Trends and Top Risks of 2015 10/9/2015. Eric Vyverberg. Randy Armknecht. David Kupinski IT AUDIT Current Trends and Top Risks of 2015 2 02 Eric Vyverberg WHO WE ARE David Kupinski Randy Armknecht Associate Director Internal Audit Protiviti 317.510.4661 eric.vyverberg@protiviti.com Managing

More information

Information Security Addressing Your Advanced Threats

Information Security Addressing Your Advanced Threats Information Security Addressing Your Advanced Threats Where We are Going Information Security Landscape The Threats You Face How To Protect Yourself This Will Not Be Boring What Is Information Security?

More information

FFIEC Cybersecurity Assessment Tool

FFIEC Cybersecurity Assessment Tool 6/9/2016 Tim Segerson, Deputy Director Office of Examination & Insurance FFIEC Cybersecurity Assessment Tool LSCU Cyber Breakout June 17, 2016 Continuing saga of lost sensitive data Every event enhances

More information

THE EVOLUTION OF CYBERSECURITY

THE EVOLUTION OF CYBERSECURITY THE EVOLUTION OF CYBERSECURITY Identifying Best Practices June 2, 2015 Cerone F. Cy Sturdivant Managing Consultant Nashville, TN 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls when

More information

Best Practices: Reducing the Risks of Corporate Account Takeovers

Best Practices: Reducing the Risks of Corporate Account Takeovers Best Practices: Reducing the Risks of Corporate Account Takeovers California Department of Financial Institutions September 2012 INTRODUCTION A state led cooperative effort, including the United States

More information

Corporate Account Take Over (CATO) Guide

Corporate Account Take Over (CATO) Guide Corporate Account Take Over (CATO) Guide This guide was created to increase our customers awareness of the potential risks and threats that are associated with Internet and electronic- based services,

More information

Information Security Handbook

Information Security Handbook Information Security Handbook Adopted 6/4/14 Page 0 Page 1 1. Introduction... 5 1.1. Executive Summary... 5 1.2. Governance... 5 1.3. Scope and Application... 5 1.4. Biennial Review... 5 2. Definitions...

More information

RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123. Cybersecurity: A Growing Concern for Small Businesses

RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123. Cybersecurity: A Growing Concern for Small Businesses RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123 Cybersecurity: A Growing Concern for Small Businesses Copyright Materials This presentation is protected by US and International Copyright

More information

3/4/2015. Scope of Problem. Data Breaches A Daily Phenomenon. Cybersecurity: Minimizing Risk & Responding to Breaches. Anthem.

3/4/2015. Scope of Problem. Data Breaches A Daily Phenomenon. Cybersecurity: Minimizing Risk & Responding to Breaches. Anthem. Cybersecurity: Minimizing Risk & Responding to Breaches March 5, 2015 Andy Chambers Michael Kelly Jimmie Pursell Scope of Problem Data Breaches A Daily Phenomenon Anthem JP Morgan / Chase Sony Home Depot

More information

Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers

Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers Who s Regulating Whom & What are the Requirements: Banks As Payment Services Providers Tony DaSilva, AAP, CISA S&R Senior Technical Expert Federal Reserve Bank of Atlanta Disclaimer The opinions expressed

More information

Cybersecurity The role of Internal Audit

Cybersecurity The role of Internal Audit Cybersecurity The role of Internal Audit Cyber risk High on the agenda Audit committees and board members are seeing cybersecurity as a top risk, underscored by recent headlines and increased government

More information

Data Breaches and Cyber Risks

Data Breaches and Cyber Risks Data Breaches and Cyber Risks Carolinas Credit Union League Leadership Conference Presented by: Ken Otsuka Business Protection Risk Management CUNA Mutual Group CUNA Mutual Group Proprietary Reproduction,

More information

Larry Schoeberl, Supervisory Examiner National Credit Union Administration FFIEC Cybersecurity Assessment Tool

Larry Schoeberl, Supervisory Examiner National Credit Union Administration FFIEC Cybersecurity Assessment Tool Larry Schoeberl, Supervisory Examiner National Credit Union Administration FFIEC Cybersecurity Assessment Tool Michigan CU League & Affiliates Conference February 11, 2016 Agenda Risk Trends FFIEC Cybersecurity

More information

Cybersecurity A Clear and Present Danger

Cybersecurity A Clear and Present Danger Cybersecurity A Clear and Present Danger Thomas J. DeMayo, CISSP, CISA, CIPP, CEH, CHFI, MCSE Director IT Audit and Consulting Services TDeMayo@odpkf.com Objectives Gain an understanding of current cyber

More information

Auditing After a Cyber Attack JAX IIA Chapter Meeting Cybersecurity and Law Enforcement

Auditing After a Cyber Attack JAX IIA Chapter Meeting Cybersecurity and Law Enforcement Auditing After a Cyber Attack JAX IIA Chapter Meeting Cybersecurity and Law Enforcement Copyright Elevate Consult LLC. All Rights Reserved 1 Presenter Ray Guzman MBA, CISSP, CGEIT, CRISC, CISA Over 25

More information

Enterprise Computing Solutions

Enterprise Computing Solutions Business Intelligence Data Center Cloud Mobility Enterprise Computing Solutions Security Solutions arrow.com Security Solutions Secure the integrity of your systems and data today with the one company

More information

Don t Fall Victim to Cybercrime:

Don t Fall Victim to Cybercrime: Don t Fall Victim to Cybercrime: Best Practices to Safeguard Your Business Agenda Cybercrime Overview Corporate Account Takeover Computer Hacking, Phishing, Malware Breach Statistics Internet Security

More information

Presented By: Corporate Security Information Security Treasury Management

Presented By: Corporate Security Information Security Treasury Management Presented By: Corporate Security Information Security Treasury Management Is Your Business Prepared for a Cyber Incident? It s not a matter of if, it s a matter of when Cyber Attacks are on the Rise; Physical

More information

Cyber Security Metrics Dashboards & Analytics

Cyber Security Metrics Dashboards & Analytics Cyber Security Metrics Dashboards & Analytics Feb, 2014 Robert J. Michalsky Principal, Cyber Security NJVC, LLC Proprietary Data UNCLASSIFIED Agenda Healthcare Sector Threats Recent History Security Metrics

More information

Remarks by. Thomas J. Curry. Comptroller of the Currency. Before the. Chicago. November 7, 2014

Remarks by. Thomas J. Curry. Comptroller of the Currency. Before the. Chicago. November 7, 2014 Remarks by Thomas J. Curry Comptroller of the Currency Before the 10 th Annual Community Bankers Symposium Chicago November 7, 2014 Good morning, it s a pleasure to be here today and to have this opportunity

More information

Information Technology Risk Management

Information Technology Risk Management Find What Matters Information Technology Risk Management Control What Counts The Cyber-Security Discussion Series for Federal Government security experts... by Carson Associates your bridge to better IT

More information

7 th Annual Information Security Summit The Executive Forum. Information Security Management Overview

7 th Annual Information Security Summit The Executive Forum. Information Security Management Overview 7 th Annual Information Security Summit The Executive Forum Information Security Management Overview June 4, 2015 Copyright 2015. Citadel Information Group. All Rights Reserved. 2 Establishing Leadership.

More information

Analyzing Security for Retailers An analysis of what retailers can do to improve their network security

Analyzing Security for Retailers An analysis of what retailers can do to improve their network security Analyzing Security for Retailers An analysis of what retailers can do to improve their network security Clone Systems Business Security Intelligence Properly Secure Every Business Network Executive Summary

More information

Vendor Risk Management Financial Organizations

Vendor Risk Management Financial Organizations Webinar Series Vendor Risk Management Financial Organizations Bob Justus Chief Security Officer Allgress Randy Potts Managing Consultant FishNet Security Bob Justus Chief Security Officer, Allgress Current

More information

FFIEC Supplemental Guidance to Authentication in an Internet Banking Environment. Robert Farmer Senior Technology Compliance Manager

FFIEC Supplemental Guidance to Authentication in an Internet Banking Environment. Robert Farmer Senior Technology Compliance Manager FFIEC Supplemental Guidance to Authentication in an Robert Farmer Senior Technology Compliance Manager 1 888 250 4400 Effective Date The FFIEC Supplement to Authentication in an was issued on June 28,

More information

FFIEC Cybersecurity Assessment Tool Overview for Chief Executive Officers and Boards of Directors

FFIEC Cybersecurity Assessment Tool Overview for Chief Executive Officers and Boards of Directors Overview for Chief Executive Officers and Boards of Directors In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed

More information

Cyber- Attacks: The New Frontier for Fraudsters. Daniel Wanjohi, Technology Security Specialist

Cyber- Attacks: The New Frontier for Fraudsters. Daniel Wanjohi, Technology Security Specialist Cyber- Attacks: The New Frontier for Fraudsters Daniel Wanjohi, Technology Security Specialist What is it All about The Cyber Security Agenda ; Protecting computers, networks, programs and data from unintended

More information

Cybersecurity Awareness. Part 1

Cybersecurity Awareness. Part 1 Part 1 Objectives Discuss the Evolution of Data Security Define and Discuss Cybersecurity Review Threat Environment Part 1 Discuss Information Security Programs s Enhancements for Cybersecurity Risks Threat

More information

Email Data Security. The dominant business communication tool

Email Data Security. The dominant business communication tool Email Data Security Jim Brashear General Counsel Zix Corporation Dallas Business Uses Email The dominant business communication tool Time spent on email exceeds time spent on all other communication tools

More information

Cyber Liability Insurance: It May Surprise You

Cyber Liability Insurance: It May Surprise You Cyber Liability Insurance: It May Surprise You Moderator Eugene Montgomery, President & CEO Community Financial Insurance Center Panelists Antonio Trotta, Senior Claim Counsel, CNA Specialty William Heinbokel,

More information

Presented by: Mike Morris and Jim Rumph

Presented by: Mike Morris and Jim Rumph Presented by: Mike Morris and Jim Rumph Introduction MICHAEL MORRIS, CISA Systems Partner JIM RUMPH, CISA Systems Manager Objectives To understand how layered security assists in securing your network

More information

2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage

2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage 2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage Chris Reese Vice President, Director of Underwriting Connie Rivas Asst. Vice President, Contracts and

More information

Cybersecurity Demystified: Information Technology Security Trends. Joe Oleksak, Plante Moran

Cybersecurity Demystified: Information Technology Security Trends. Joe Oleksak, Plante Moran Cybersecurity Demystified: Information Technology Security Trends Joe Oleksak, Plante Moran Agenda Data Security Trends Example Attacks Industry Examples An Answer 1 Who Are The Victims? Targets - victims

More information

A Wake-Up Call? Fight Back Against Cybercrime. Prepared for: Ricky Link Managing Director, Southwest Region May 15, 2014

A Wake-Up Call? Fight Back Against Cybercrime. Prepared for: Ricky Link Managing Director, Southwest Region May 15, 2014 A Wake-Up Call? Fight Back Against Cybercrime Prepared for: Ricky Link Managing Director, Southwest Region May 15, 2014 1 Coalfire Background Leading Information Security Consulting Firm Offices: Atlanta,

More information

Cyber Self Assessment

Cyber Self Assessment Cyber Self Assessment According to Protecting Personal Information A Guide for Business 1 a sound data security plan is built on five key principles: 1. Take stock. Know what personal information you have

More information

Who Drives Cybersecurity in Your Business? Milan Patel, K2 Intelligence. AIBA Quarterly Meeting September 10, 2015

Who Drives Cybersecurity in Your Business? Milan Patel, K2 Intelligence. AIBA Quarterly Meeting September 10, 2015 Who Drives Cybersecurity in Your Business? Milan Patel, K2 Intelligence AIBA Quarterly Meeting September 10, 2015 The Answer 2 Everyone The relationship between the board, C-suite, IT, and compliance leaders

More information

MEMORANDUM. Date: October 28, 2013. Federally Regulated Financial Institutions. Subject: Cyber Security Self-Assessment Guidance

MEMORANDUM. Date: October 28, 2013. Federally Regulated Financial Institutions. Subject: Cyber Security Self-Assessment Guidance MEMORANDUM Date: October 28, 2013 To: Federally Regulated Financial Institutions Subject: Guidance The increasing frequency and sophistication of recent cyber-attacks has resulted in an elevated risk profile

More information

Who s Doing the Hacking?

Who s Doing the Hacking? Who s Doing the Hacking? 1 HACKTIVISTS Although the term hacktivist refers to cyber attacks conducted in the name of political activism, this segment of the cyber threat spectrum covers everything from

More information

CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS

CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS October 21, 2015 CYBERSECURITY & EXPECTATIONS FOR INDEPENDENT GROCERS Cerone F. Cy Sturdivant Managing Consultant csturdivant@bkd.com 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls

More information

IT Security to Combat Today s Cyber Fraud

IT Security to Combat Today s Cyber Fraud IT Security to Combat Today s Cyber Fraud Thomas J. DeMayo, CISSP, CIPP, CEH, CPT, MCSE Director, IT Audit and Consulting - O Connor Davies, LLP Timothy M. Simons, CPA, CFA, CIPM, CSCP, CFP Senior Managing

More information

SANS Top 20 Critical Controls for Effective Cyber Defense

SANS Top 20 Critical Controls for Effective Cyber Defense WHITEPAPER SANS Top 20 Critical Controls for Cyber Defense SANS Top 20 Critical Controls for Effective Cyber Defense JANUARY 2014 SANS Top 20 Critical Controls for Effective Cyber Defense Summary In a

More information

Practice Good Enterprise Security Management. Presented by Laurence CHAN, MTR Corporation Limited

Practice Good Enterprise Security Management. Presented by Laurence CHAN, MTR Corporation Limited Practice Good Enterprise Security Management Presented by Laurence CHAN, MTR Corporation Limited About Me Manager Information Security o o o o Policy formulation and governance Incident response Incident

More information

Cybersecurity. Threats to Nonprofits. Chris Debo Senior Manager, IT Audit. August 14, 2014

Cybersecurity. Threats to Nonprofits. Chris Debo Senior Manager, IT Audit. August 14, 2014 Cybersecurity Threats to Nonprofits Chris Debo Senior Manager, IT Audit August 14, 2014 What is Cybersecurity? NIST definition: The process of protecting information by preventing, detecting, and responding

More information

Attachment A. Identification of Risks/Cybersecurity Governance

Attachment A. Identification of Risks/Cybersecurity Governance Attachment A Identification of Risks/Cybersecurity Governance 1. For each of the following practices employed by the Firm for management of information security assets, please provide the month and year

More information

U. S. Attorney Office Northern District of Texas March 2013

U. S. Attorney Office Northern District of Texas March 2013 U. S. Attorney Office Northern District of Texas March 2013 What Is Cybercrime? Hacking DDOS attacks Domain name hijacking Malware Other computer related offenses, i.e. computer and internet used to facilitate

More information

IT Best Practices Audit TCS offers a wide range of IT Best Practices Audit content covering 15 subjects and over 2200 topics, including:

IT Best Practices Audit TCS offers a wide range of IT Best Practices Audit content covering 15 subjects and over 2200 topics, including: IT Best Practices Audit TCS offers a wide range of IT Best Practices Audit content covering 15 subjects and over 2200 topics, including: 1. IT Cost Containment 84 topics 2. Cloud Computing Readiness 225

More information