Cybersafe is a much-needed ally in preventing cyberattacks in the financial sector.
The financial sector has been one of the hardest-hit industries by cyberattacks and data breaches, which has challenged companies to stay diligent.
Finance companies must stay compliant while increasing their cybersecurity to appropriate levels. This can be expensive and time-consuming if they go at it alone.
Cybersafe's team of cybersecurity experts has the knowledge from both a technical and non-technical perspective to address compliance and build a security program.
We provide your company with administrative, physical, and technical safeguards that will reduce your risk and protect you from regulatory fines, legal, financial, and reputational losses.
Compliance & Cybersecurity
The Gramm-Leach-Bliley Act (GLBA), which is enforced by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB), outlines the reasonable and appropriate measures that financial firms must take to protect their customers' private information. The Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) examines registered entities to promote compliance, prevent fraud, identify risk, and inform policy.
In 2014, the OCIE began publishing risk alerts pertaining to a series of cyber examinations that will identify cybersecurity risks and assess cybersecurity preparedness in the financial industry.
In order to understand a financial firm’s cybersecurity preparedness, the examinations focus on the following areas:
Governance and Risk Assessment
Examiners will assess if firms are periodically evaluating cybersecurity risks that they may be facing and what controls have been put in place to address these risks.
Learn about Threat Hunting
Access Rights & Controls
Examiners may review how firms control access to their systems. This includes a review of controls associated with remote access, logins and passwords, network segmentation, and the type of authentication and authorization methods being utilized.
Learn about Threat Monitoring
Data Loss Prevention
Examiners may assess how firms monitor the volume of content shared by employees or third parties outside of their firm. They may also assess how firms monitor unauthorized data transfers.
Learn about Threat Monitoring
Training
Examiners review the type of training provided to employees as it pertains to their job functions. Examiners focus on how to encourage responsible employee behavior and what procedures are in place for reporting suspicious activity or responding to cyber incidents.
Learn about Security Training
Incident Response
Examiners may assess if firms have established policies and procedures, assigned roles, identified system vulnerabilities, and developed plans to address future events.
Learn about Response & Containment