Skip to content

TEXAS BANKING NEWS, PEOPLE and IDEAS

  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News
  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News
Linkedin Facebook Twitter
  • Home
  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News
  • Home
  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News

TEXAS BANKING NEWS, PEOPLE AND IDEAS

  • Home
  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News
  • Home
  • Texas Bankers
  • News
  • Features
  • Perspectives
  • Regulatory Actions
  • Classified Ads
  • About
  • Advertise
  • Submit News

TEXAS BANKING NEWS, PEOPLE AND IDEAS

Feature,News

Conference of State Bank Supervisors Updates Ransomware Self-Assessment Tool

November 15, 2023

The Conference of State Bank Supervisors (CSBS) has released an update (version 2.0) to the Ransomware Self-Assessment Tool (R-SAT) for financial institutions. The R-SAT, which was developed in collaboration with the Bankers Electronic Crimes Task Force, state bank regulators and the U.S. Secret Service, was originally released in October 2020.

According to the Texas Department of Banking, the tool is “proven to be a thought-provoking but easy-to-use and repeatable tool to help financial institutions periodically assess their own efforts to mitigate risks specifically associated with ransomware and to identify gaps for increasing security. The R-SAT also provides executive management and the board of directors with an overview of the institution’s preparedness towards identifying, protecting, detecting, responding to and recovering from a ransomware attack.”

Version 2.0 reflects updates developed in light of evolutions in the ransomware threat environment and threat actor behaviors, as well as changes in financial institution control environments that have occurred since its original issuance. Updates to the R-SAT were also based in part on the results of a study conducted by multiple state banking departments of ransomware attacks on state-chartered banks and credit unions between January 1, 2019, and December 31, 2022. Findings from this study are summarized in the report, Ransomware: Lessons Learned by Banks That Suffered an Attack.

Due to the significant updates in the R-SAT, especially related to multi-factor authentication, the Texas Department of Banking recommends that banks update their R-SAT as soon as possible. The agency’s examiners will review and discuss banks’ completed R-SAT 2.0 at upcoming information technology examinations beginning April 1, 2024.
­­
The Texas Department of Banking suggests that if bankers have questions about the R-SAT tool, they should contact Ruth Norris, chief IT security examiner at the agency.

SHARE THIS FEATURE:

Previous October 22–28, 2023 Next Simmons Bank Expands in Dallas/Fort Worth with New Camp Wisdom Branch

MORE News

The 10-Year Rule is Here to Stay

Read More >

Susser Bank Golf Classic Raises $225,000+ to Support MD Anderson Cancer Center

Read More >

SW Graduate School of Banking Announces 160th Assembly for Bank Directors

Read More >
< Previous Page1 Page2 Page3 Page4 Page5 Next >

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities.

  • Submit news to Bankers Digest
  • Contact the editorial department
  • Advertise with Bankers Digest
  • Post a classified ad

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

Search

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to contact the editorial department.

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to contact the editorial department.

Feature,News

Conference of State Bank Supervisors Updates Ransomware Self-Assessment Tool

November 15, 2023

The Conference of State Bank Supervisors (CSBS) has released an update (version 2.0) to the Ransomware Self-Assessment Tool (R-SAT) for financial institutions. The R-SAT, which was developed in collaboration with the Bankers Electronic Crimes Task Force, state bank regulators and the U.S. Secret Service, was originally released in October 2020.

According to the Texas Department of Banking, the tool is “proven to be a thought-provoking but easy-to-use and repeatable tool to help financial institutions periodically assess their own efforts to mitigate risks specifically associated with ransomware and to identify gaps for increasing security. The R-SAT also provides executive management and the board of directors with an overview of the institution’s preparedness towards identifying, protecting, detecting, responding to and recovering from a ransomware attack.”

Version 2.0 reflects updates developed in light of evolutions in the ransomware threat environment and threat actor behaviors, as well as changes in financial institution control environments that have occurred since its original issuance. Updates to the R-SAT were also based in part on the results of a study conducted by multiple state banking departments of ransomware attacks on state-chartered banks and credit unions between January 1, 2019, and December 31, 2022. Findings from this study are summarized in the report, Ransomware: Lessons Learned by Banks That Suffered an Attack.

Due to the significant updates in the R-SAT, especially related to multi-factor authentication, the Texas Department of Banking recommends that banks update their R-SAT as soon as possible. The agency’s examiners will review and discuss banks’ completed R-SAT 2.0 at upcoming information technology examinations beginning April 1, 2024.
­­
The Texas Department of Banking suggests that if bankers have questions about the R-SAT tool, they should contact Ruth Norris, chief IT security examiner at the agency.

SHARE THIS FEATURE:

Previous October 22–28, 2023 Next Simmons Bank Expands in Dallas/Fort Worth with New Camp Wisdom Branch

MORE News

Loading...

The 10-Year Rule is Here to Stay

Susser Bank Golf Classic Raises $225,000+ to Support MD Anderson Cancer Center

SW Graduate School of Banking Announces 160th Assembly for Bank Directors

Jacksonville-based Austin Bank Celebrates Two New Branches in Houston Region

1 2 … 5 Next >

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

Search

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to send us your bank’s news or to contact the editorial department.

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to send us your bank’s news or to contact the editorial department.

Feature,News

Conference of State Bank Supervisors Updates Ransomware Self-Assessment Tool

November 15, 2023

The Conference of State Bank Supervisors (CSBS) has released an update (version 2.0) to the Ransomware Self-Assessment Tool (R-SAT) for financial institutions. The R-SAT, which was developed in collaboration with the Bankers Electronic Crimes Task Force, state bank regulators and the U.S. Secret Service, was originally released in October 2020.

According to the Texas Department of Banking, the tool is “proven to be a thought-provoking but easy-to-use and repeatable tool to help financial institutions periodically assess their own efforts to mitigate risks specifically associated with ransomware and to identify gaps for increasing security. The R-SAT also provides executive management and the board of directors with an overview of the institution’s preparedness towards identifying, protecting, detecting, responding to and recovering from a ransomware attack.”

Version 2.0 reflects updates developed in light of evolutions in the ransomware threat environment and threat actor behaviors, as well as changes in financial institution control environments that have occurred since its original issuance. Updates to the R-SAT were also based in part on the results of a study conducted by multiple state banking departments of ransomware attacks on state-chartered banks and credit unions between January 1, 2019, and December 31, 2022. Findings from this study are summarized in the report, Ransomware: Lessons Learned by Banks That Suffered an Attack.

Due to the significant updates in the R-SAT, especially related to multi-factor authentication, the Texas Department of Banking recommends that banks update their R-SAT as soon as possible. The agency’s examiners will review and discuss banks’ completed R-SAT 2.0 at upcoming information technology examinations beginning April 1, 2024.
­­
The Texas Department of Banking suggests that if bankers have questions about the R-SAT tool, they should contact Ruth Norris, chief IT security examiner at the agency.

SHARE THIS FEATURE:

Previous | Next

MORE News

Loading...

The 10-Year Rule is Here to Stay

Susser Bank Golf Classic Raises $225,000+ to Support MD Anderson Cancer Center

SW Graduate School of Banking Announces 160th Assembly for Bank Directors

Jacksonville-based Austin Bank Celebrates Two New Branches in Houston Region

1 2 … 5 Next >

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

Search

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to send us your bank’s news or to contact the editorial department.

Subscribe to Bankers Digest

Bankers Digest’s e-newsletter is distributed three times a month. Sign up today to stay in the loop—it’s free!

About

Bankers Digest is your source for Texas banking news and information, including bankers on the move,  bank developments across the state, industry updates, regulations and job opportunities. Click here to send us your bank’s news or to contact the editorial department.

Linkedin Twitter Facebook

© 2024 Bankers Digest—Published by IBAT Marketing Inc.
a SUBSIDIARY of the Independent Bankers Association of Texas

Linkedin Twitter Facebook

© 2024 Bankers Digest—Published by IBAT Marketing Inc.
a SUBSIDIARY of the Independent Bankers Association of Texas3

Linkedin Twitter Facebook

© 2024 Bankers Digest—
Published by IBAT Marketing Inc.,
a SUBSIDIARY of the Independent Bankers Association of Texas