Cybersecurity 101: A resource guide for bank executives

Summary

Financial institutions handle highly sensitive information and are crucial to national infrastructure, making them prime targets for cyber-attacks. CEOs, executives, and board members must protect their institution’s money and data to maintain consumer trust and avoid financial, reputational, and legal repercussions. Cyber-attacks not only threaten individual institutions but also pose risks to market confidence and national financial stability due to the interconnected nature of the internet.

This guide aims to help both bank and nonbank financial institutions develop comprehensive, responsive cybersecurity programs tailored to their unique challenges and threats. It offers non-technical advice on best practices and resources, including people, processes, tools, and technologies, to mitigate cybersecurity risks. The guide encourages collaboration between financial institutions and regulators to safeguard against persistent cyber threats and support a stable economy.