WBA Membership Update: Cybersecurity in 2021
SolarWinds Hack, The SAFETY Act, and Key Lessons Learned for Bank Directors and CEOs
Cybersecurity is at the forefront of recent news with the discovery of the SolarWinds hack as well as reports concerning the increase in cyber-attacks and use of ransomware impacting corporate and government data security systems. The cybersecurity risk is no longer the sole responsibility of the bank’s IT department, it is an enterprise-wide risk to the financial institution that must be managed from the top. WBA recently hosted a membership update call with data security experts from the Pillsbury global law firm to identify data security risks and best practices.
Bank directors and C-suite officers will benefit from this previously-recorded one hour panel presentation by the data security experts at Pillsbury who provide insight on the SolarWinds hack and how to keep the bank safe as well as some key features of the recently enacted federal SAFETY act that may provide liability protections. The panel also identifies key cybersecurity insurance considerations and data breach lessons learned.