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Financial Services Law Insights and Observations

CSBS and others release ransomware mitigation tool

State Issues CSBS Ransomware Privacy/Cyber Risk & Data Security

State Issues

On October 13, the Conference of State Bank Supervisors (CSBS), joined by the Bankers Electronic Crimes Task Force and the U.S. Secret Service, released a self-assessment tool to help supervised financial institutions mitigate the risk of ransomware attacks. The tool will also help financial institutions assess how well they are managing risks and identify gaps for increasing security. CSBS developed the tool in conjunction with the U.S. Secret Service and the Bankers Electronic Crimes Task Force as incidents of ransomware have been on the rise and continue to spread.

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