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Computer-Security Incident

Financial Regulatory Agencies Announce Proposed Rule Requiring Notice of Computer Security Incidents

January 12, 2021 By Kim Peretti

On December 18, 2020, federal financial regulatory agencies jointly announced a proposed rule that would impose new and expanded reporting requirements on supervised banking organizations that experience a “computer-security incident,” requiring notice within 36 hours of any computer-security incident that rises to the level of a “notification incident.” In a significant departure from current reporting […]

Filed Under: Cybercrime, Cybersecurity, Data Security, Enforcement, NYDFS Tagged With: Bank Secrecy Act (BSA), Board of Governors of the Federal Reserve System, Computer-Security Incident, FDIC, Gramm-Leach-Bliley Act (GLBA), Notice of Proposed Rulemaking, Office of the Comptroller of the Currency (OCC), Suspicious Activity Report (SAR)

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