Western Bankers Association Elevates Incident Response Program to Address Uptick in Cyberattacks During Pandemic

Press release

 

SACRAMENTO, CA,– The Western Bankers Association (WBA) has updated and elevated its Incident Response Program (IRP) to address the steady increase in cyberattacks since the COVID19 pandemic. The IRP is designed to help member banks prepare for and mitigate against recent cyber incidents. The IRP team consists of multiple cybersecurity disciplines to mitigate risk associated with data security (cyber insurance; information security; legal and regulatory; and reputational management) and specialists including, Peter Marchel of Marchel & Associates Risk Consulting, Sean Hoar of Lewis Brisbois and Casey Boggs of ReputationUs.

“The risk of major cyberattacks on banks is on the rise. Preparing for and protecting against cyber incidents continues to be a top priority for bank executives and board directors,” said Steve Andrews, president and CEO of the WBA. “We are once again offering our Incident Response Program to our member banks to help prepare for such incidents and mitigate against disruptions to a bank’s operations.”

Participating WBA member banks in the IRP will receive customized services, including:

  • Cyber insurance policy review and recommendations
  • Crisis communications plan for data security incidents
  • Measures to limit third-party liability arising from data security incidents
  • Customized incident response plan
  • Training by WBA’s incident response planning team on the following topics:
    • Current online threats
    • Data security regulatory environment
    • Consumer and regulatory data breach notification obligations
    • Data security measures for prevention, detection and response
    • Cyber insurance industry updates
    • Review of crisis communications plan
    • Review of incident response plan

More information about the IRP is available here.