Tags: banking | regulators | banks | flag | computer | breaches

Banking Regulators Propose Requiring Banks to Immediately Flag Computer Breaches

Banking Regulators Propose Requiring Banks to Immediately Flag Computer Breaches
(Welcomia/Dreamstime)

Friday, 18 December 2020 10:24 AM

U.S. banks would have no longer than 36 hours after finding a cybersecurity breach to flag the issue to their regulators, under a new rule proposed Friday.

The proposal from U.S. banking regulators would direct banks to notify their primary regulator as soon as possible after a breach is discovered that could impair services or the organization itself. In addition, the rule would direct third-party service providers to promptly tell client banks of any breaches that would impair their services.

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U.S. banks would have no longer than 36 hours after finding a cybersecurity breach to flag the issue to their regulators, under a new rule proposed Friday.
banking, regulators, banks, flag, computer, breaches
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2020-24-18
Friday, 18 December 2020 10:24 AM
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