Blog Posts Tagged With Federal Regulation – U.S.

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Davis Polk Memo – Banking Regulators Float Broad Cyber Risk Approach

We have issued a memo on recent proposed U.S. federal banking regulations that could significantly expand the existing cybersecurity regulatory framework for covered financial institutions. The Enhanced Standards intend to strengthen cyberattack preventative measures and post-attack responses.

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FinCEN Issues Advisory and FAQs on Cyber-Events and Cyber-Enabled Crime

 FinCEN Issues Advisory and FAQs on Cyber-Events and Cyber-Enabled Crime (10/27)

On October 25, 2016 FinCEN issued an advisory and FAQs to financial institutions regarding their Suspicious Activity Report (SAR) obligations with respect to cyber-events, cyber-enabled crime, and cyber-related information as those terms are defined. The FAQs supersede previous FAQs issued in 2001. The advisory and FAQ also discuss collaboration between in-house BSA/AML teams (e.g., noting that the BSA/AML teams need not have personnel devoted … Continue Reading

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