State financial regulators, joined by the Bankers’ Electronic Crimes Taskforce and the U.S. Secret Service, today issued a self-assessment tool to banks they supervise in an effort to help mitigate ransomware attacks. Ransomware attacks have rapidly become one of the largest and most serious cybersecurity threats to financial institutions.
The OSBC is encouraging banks to utilize the Ransomware Self-Assessment Tool (R-SAT) as another tool towards proper awareness and controls to prevent this growing threat. The 16-question tool identifies security controls that specifically can assist in preventing this type of incident. This tool assists executive management in understanding their bank’s preparedness towards identifying, protecting, responding, and recovery from a ransomware attack.
Completed R-SAT documents will be requested & reviewed by OSBC staff during future IT examinations at your bank.
Please utilize the link below to visit the CSBS website where the tool can be downloaded, as well as other resources: