Banking Industry Awaits Details on Cybersecurity Proposals

Image source:  Article

Image source: Article

Banks are looking for more details on recent proposals coming from the New York State Department of Financial Services related to precautions against money laundering, sanctions and cyberattacks. Just this week, the American Bankers Association urged Congress to enact a uniform federal data breach law. This comes as President Obama has called for more voluntary sharing of cybersecurity data with the government and among similar businesses.

Does your bank share the same mindset, like many organizations in other sectors, to minimize your liability if your share information?

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