New York State Department of Financial Services: Banks not doing enough to ensure vendors are taking adequate cybersecurity steps. New York’s Financial Services Department is now considering cybersecurity requirements for financial institutions that would apply to their relationships with third-party service providers. Only 46 percent of the surveyed institutions say they conduct pre-contract assessments of high-risk vendors. Only 35 percent say they do periodic on-site assessments to ensure ongoing security. Only 36 percent of banks require that those information security requirements be extended to vendors’ subcontractors.”]
Source: https://www.cuinfosecurity.com/banks-vendor-monitoring-comes-up-short-a-8103