BITSIGHT SECURITY RATINGS BLOG

In June 2018, the European Banking Authority (EBA) put forth guidelines on outsourcing arrangements that highlighted the importance of risk management within financial organizations. The notice of these guidelines was announced in June...

In March 2017, the New York Department of Financial Services (NYDFS) cybersecurity regulations — known as 23 NYCRR Part 500 — went into effect. According to the regulation, “any Person operating under or required to operate under a...

In the months since BitSight’s inaugural EXCHANGE forum, we have been digesting and processing the incredible sessions and discussions that came about from this forum. It was a great event that brought together security executives from all...

Banks have always been at the forefront of enterprise cybersecurity. Their enormous stores of cash and consumer data have made them a top target for hackers, and the threat of financial losses, regulatory consequences, and reputational...

Banks and other financial institutions are a proving ground for new risk management methods. High risk and intense regulations feed into a culture of serious, comprehensive security — a culture that has manifested in mature methodologies...

The financial services industry is built on trust. In the past, this trust was physically embodied by heavy bank vaults made from multiple layers of steel. Today, however, attackers and thieves don’t need lock picks to steal from financial...

Over the last several years, cybersecurity regulations (like NYDFS and GDPR) have placed pressure on the financial services industry to build and enforce some of the strongest risk management programs across any industry. These programs...

With every reported data breach or cyberattack, the cyber risk landscape gets a little more complex. Cyber criminals create new attack vectors, cybersecurity professionals develop new controls to protect their systems, the criminals get to...

The implementation of many strict cybersecurity regulations and requirements (including GDPR, NYDFS, and more) continues to increase on a global scale. 2018 has also brought about the continuation of strict cybersecurity regulations in the...