Federal Deposit Insurance Corp. needs to improve the way it determines that banks are taking adequate steps to defend against cyber-attacks, a report says. The report says the FDIC relies too heavily on statements from banks’ system security efforts. The FDIC says it’s working to strengthen its programs to help banks secure their IT security. Industry experts say the industry recognizes the need for regulatory guidance on effective standards of practice for cybersecurity risk management. The IG evaluation comes in the wake of last year’s massive breach at JPMorgan Chase.”]
Source: https://www.inforisktoday.com/audit-fdic-must-boost-infosec-scrutiny-a-8099