Timing is everything, and March was the perfect time to focus on business continuity and disaster recovery.
On the heels of our State of Information Security survey, which showcased your main areas of concern (namely, pandemic preparation), March saw the release of important new guidance: the Federal Financial...
The Federal Financial Institutions Examination Council (FFIEC) this week issued long-awaited new guidance on business continuity planning. The update - the first in five years - includes increased focus on business impact analysis and testing, as well as new emphasis on pandemic planning.
When it comes to pandemic preparation at U.S. financial institutions, it's a case of good news/bad news.
Bad news first: Many midsized and smaller financial institutions are not fully compliant with the recent FFIEC pandemic guidance and don't have formalized pandemic preparedness plans yet in place.
But the good...
The good news is: The financial services industry is "head and shoulders" above other industries when it comes to being prepared for a pandemic disaster.
The bad news is: There's still a ton of work to be done before banking institutions can say they're truly ready to face such a crisis.
Pandemic preparation gets the lion's share of the headlines when it comes to Business Continuity/Disaster Recovery these days. And that's fine. The topic deserves the attention. Needs it.
But that's not to say that pandemic preparation is the only topic of BC/DR conversation.
The Federal Financial Institutions Examination Council (FFIEC) has just issued an interagency statement on pandemic planning for financial institutions. This guidance lays out the actions and framework that institutions should address in their business continuity plans to minimize the potential impact of a pandemic...
If 2007 is any indication, then 2008 is going to be a wild year for financial institutions facing a slew of risk management issues.
Hanging like the sword of Damocles above all is the subprime mortgage crisis, which sees institutions looking for ways to avoid foreclosures and challenges surrounding underwriting....
You've seen the biggest stories and security incidents of 2007. Now here's a list of the most popular federal agency releases and regulations of the year.
The second interagency guidance on pandemic planning and response has just been issued by the Federal Financial Institutions Examination Council (FFIEC).
Information Security Media Group recently attended the BAI Retail Delivery Conference 2007 in Las Vegas. Our correspondents covered the expo floor from a vendor point of view, and we spoke with a number of vendors who had products or services specific to information security. In general, the vendors that had some sort...
Every year the Anti-Money Laundering/Bank Security Act (AML/BSA) Examination Manual undergoes revisions. This year's revisions expand the discussion on providing banking services to money services businesses (MSBs).
UPDATED 10/31 -- For more than a week, wildfires ravaged Southern California, and financial institutions in the area were forced to temporarily close branches and initiate their emergency response plans.
The wildfires are slowing, and as firefighters work to extinguish the last of the fires, news has been positive...
Incident Response Starts With a Comprehensive – and Tested – Plan of Action It’s 3 a.m., and your cell phone is buzzing off the bedroom dresser. Your boss is calling to tell you that the network servers that support your institution’s online banking site have been offline for the last two...
The recent revisions to the Bank Secrecy/Anti-Money Laundering Exam Manual are being seen as a move in the right direction by those close to the subject. According to Sepideh Behram, Senior Compliance Counsel at the American Bankers Association, the revisions made to the 2007 version reflect “certain points of...
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