Some US agencies have collaborated with The Federal Deposit Insurance Corporation (FDIC) and state banking agencies to develop an information technology (IT) risk examination program, dubbed InTREx. InTREx is designed to help examiners focus on the latest virtual threats, get alerts to banks and also marshal examiner resources on banks systemically important or most at […]

The Jersey Financial Services Commission (JFSC) has issued a press statement following the recent ransomware campaign relating to version 2 of the “WannaCry” malware which experts are describing as “the biggest ransomware outbreak in history”, affecting more than 200,000 victims in over 150 different countries. The statement says The JFSC has been working over the […]

Cyber risk in financial firms is a key concern – Central Bank Guidance   Risks associated with information technology and cybersecurity are a key concern for the Central Bank. New Guidance incorporates key findings from supervisory work carried out since 2015.  Firms must increase resilience to IT failures and cybersecurity incidents. The Central Bank has […]

Introduction Following several inspections, thematic reviews and ongoing supervisory engagements throughout the course of 2015 and 2016, the Central Bank of Ireland (the “Central Bank”) has on September 13, 2016 published Cross Industry Guidance in respect of Information Technology and Cybersecurity Risks (the “Guidance”). The Guidance applies to all regulated firms in Ireland and follows […]