2015-03-16

Added 2026-08-21

Cyber Defense Management

The Bank of Israel prescribes Proper Conduct of Banking Business Directive No. 361, requiring banking corporations and credit card companies to establish a structured framework for cyber defense management. The directive mandates the appointment of a Chief Cyber Defense Officer, defines board and senior management responsibilities, and requires the formulation of a cyber defense strategy reviewed at least every three years and a corporate-wide policy assessed annually. Banking entities must implement ongoing cyber risk identification, assessment, and control evaluation processes, with the directive commencing on September 1, 2015.

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