The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement providing guidance for financial institutions about the role of cyber insurance in risk management of informational technology systems. The FFIEC comprises the principals of the following: The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration,
FFIEC Updates Cybersecurity Assessment Tool
On May 31, 2017, the Federal Financial Institutions Examination Council (FFIEC) released an update to its Cybersecurity Assessment Tool.
The Cybersecurity Assessment Tool was originally released by the FFIEC in June of 2015 to help financial institutions identify their risks and assess their cybersecurity preparedness. The Cybersecurity Assessment Tool is intended to be used by…