US banks ordered to report cyber incidents within 36 hours
US regulators have approved a new rule that requires banks to report any „significant” computer security incident within 36 hours of discovering it, according to Finextra.
Banks must inform their primary federal regulator within the timeframe for incidents that have materially affected — or are reasonably likely to materially affect — the viability of their operations, their ability to deliver products and services, or the stability of the financial sector.
In addition, banks must notify customers as soon as possible if the incident has, or is reasonably likely to, materially affected these users for four or more hours.
Banks have to be compliant with the rule – which has been approved by the Federal Reserve, FDIC and OCC – by 1 May 2022.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
