BOSTON – Not every bank has the money or the staff to do everything on the “best practices” lists of multiple regulatory agencies.
As one member of the audience at the Federal Reserve Bank of Boston’s 2017 Cybersecurity Conference this week noted, it is much more difficult for the “minnows” to comply with all the “guidance” out there, than it is for the “big fish.”
But multiple speakers and panelists agreed that most financial institutions, no matter their size, can do the basics. And, if they do the basics, while it won’t make them bulletproof, they will no longer be “low-hanging fruit” for cyber criminals.
But too many of them, said the Boston Fed’s Lead Security Systems Engineer Jasvinder Khera, aren’t doing the basics, as evidenced by the low priority they put on information security.
To read this article in full or to leave a comment, please click here
Source: News Feed