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FFIEC: Increased Cyber Attacks Are Compromising Credentials

Posted on 3/31/2015

The Federal Financial Institutions Examination Council (FFIEC) on behalf of its members issued a statement to notify financial institutions of the growing trend of cyber attacks for the purpose of obtaining online credentials for theft, fraud, or business disruption. These attacks include the users' credentials, such as passwords, user names and e-mail addresses, as well as other forms of identification. The FFIEC is urging financial institutions to address this threat by reviewing their risk management and controls over information technology networks.

The FFIEC also issued a joint statement to notify financial institutions of the threat of cyber attacks involving destructive malware and to recommend risk mitigation techniques.

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