After having evaluated the benefits, large financial institutions are embracing the cloud, resulting in its exponential growth in the industry. While the cloud delivers a raft of benefits, the pace of cloud adoption also has raised questions regarding the efficacy of risk management and compliance practices within CSPs.

As part of its ongoing efforts to counter the growing threat of ransomware, the Treasury Department’s Office of Foreign Assets Control has released an updated advisory on potential sanctions risks for facilitating ransomware payments.

In a statement for the record shared ahead of a House Financial Services subcommittee hearing on consumer access to personal financial data, ABA emphasized that it fully supports customers’ ability to access and share their financial data in a secure, transparent manner that gives them control.

Global and U.S. regulators are clamping down on the "Wild West" crypto industry. New York’s attorney general shut down Coinseed for trading currencies without being registered as a broker-dealer. Bitfinex and Tether were also shut down earlier this year after they paid $18.5 million in penalties. And Treasury’s Office of Foreign Assets Control just designated SUEX for facilitating financial transactions for ransomware actors (such as Colonial Pipeline).

The federal government’s Safer Federal Workforce Task Force issued guidance that requires COVID-19 vaccination of all employees of federal contractors.

With cyber incidents continuing to pose a threat to the financial system, the Basel Committee on Banking Supervision called on banks to improve cyber threat resilience.

October 6
Webinar: Tackling Cyber Risks: Regulations to Ransomware

October 18 - November 3
Virtual School: Compliance School – Foundational

October 20
Webinar: Combining Cyber and Physical Security to Protect Your ATMs

October 21
Webinar: CFPB Regulation F on Debt Collection: How to Approach Compliance 

October 26
Webinar: Cybersecurity: A Critical Component of the Distributed Cloud

October 27
Webinar: Ten Key Steps in a Cyber Incident Response

December 1 - 3
Conference: ABA/ABA Financial Crimes Enforcement Conference
Gaylord National Resort and Convention Center, National Harbor, MD

2022
January 30 - February 2
Conference: Insurance Risk Management Forum
Omni Amelia Island Resort, Fernandina Beach, FL