OCC’s Thomas Curry: Third-party security risks are creating increasing vulnerabilities for community banks. Curry: Due diligence and ongoing risk assessments of all third-parties must be a part of every banking institution’s vendor management program. Banks need to be responsible for monitoring and ensuring the ongoing security of the vendors they work with which they work, he said. Curry’s office issued updated guidance related to third-party risks in October. The update noted eight areas where banking institutions need to make improvements to vendor management programs.”]
Source: https://www.bankinfosecurity.com/occs-curry-third-party-risks-growing-a-6759