CSBS announces update to Nonbank Ransomware Self-Assessment Tool

The Conference of State Bank Supervisors (CSBS), partnering with the U.S. Secret Service (USSS) and the Bankers Electronic Crimes Task Force (BECTF), has issued an updated self-assessment tool to help nonbank financial institutions assess their efforts to mitigate risks associated with ransomware and identify security gaps.

The updated Nonbank Ransomware Self-Assessment Tool (R-SAT), originally released in 2020, includes insights from cybersecurity experts and feedback from financial institutions. The updated R-SAT also includes lessons nonbank institutions have learned from real-life ransomware attacks, including the value of multi-factor authentication, the importance of managing social media during incidents, and the need for understanding cloud-based storage and services.

Read the full press release from CSBS by following this link. 

Access the updated R-SAT by following this link.