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BITSIGHT SECURITY RATINGS BLOG

Read about the latest cybersecurity news and get advice on third-party vendor risk management, reporting cybersecurity to the Board, managing cyber risks, benchmarking security performance, and more.

Is Your Risk Management Program Ready for the New European Banking Authority’s Guidelines?

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...

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The Time is Now: NYDFS Deadline Means Risk Managers Need to Focus on Third-Party Risk

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...

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BitSight EXCHANGE Sound Bites: Risk Management in Financial Services

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...

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Cybersecurity and Banking: 3 Trends to Watch in 2019

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...

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Streamline Your Bank's Third-Party Vendor Management Risk Assessments

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...

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Lessons Learned from 3 Major Financial Services Data Breaches

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...

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BitSight Research Highlights Financial Services Security Ratings in the UK

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...

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3 Cybersecurity Risk Factors Financial Institutions Often Overlook

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...

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How Security Ratings Can Help Organizations Adhere to Hong Kong’s Cybersecurity Guidelines

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...

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