Regulatory Alerts2023-11-08
Ransomware Self-Assessment Tool (R-SAT) v2.0
The Bankers Electronic Crimes Taskforce, state bank regulators, and the United States Secret Service issued the Ransomware Self-Assessment Tool to help financial institutions evaluate their ransomware mitigation efforts. The document requires institutions to assess their preparedness across identifying, protecting, detecting, responding, and recovering from attacks through a detailed checklist of security controls. It guides executive management and boards in identifying gaps in cybersecurity frameworks, backup integrity, and incident response plans while warning against ransom payments that may violate OFAC regulations.
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