On November 18, 2021, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) approved a new final rule regarding reporting of cyber incidents for U.S. banks and service providers.
Under the new rule, a banking organization must notify its primary federal regulator of “any significant computer
A new bill introduced by the Senate (S. 2666), the “Sanction and Stop Ransomware Act of 2021”, would require a strict 24-hour limit for reporting ransomware payments for businesses with more than 50 employees. The bipartisan bill, put forward by leaders of the Senate Homeland Security and Governmental Affairs Committee, also focuses on critical infrastructure,
