Today’s banks and financial institutions operate in highly complex and interconnected environments while they have to ensure the privacy and security of their customer information.

• Identity Theft and GLBA regulations require banks and financial institutions to uphold the security of the institution and its customers. Specifically, GLBA mandated financial institutions to develop standards relating to administrative, technical and physical controls to protect their clients’ non-public personal information from being disclosed to third parties.
• Hackers are a constant treat to any business with an online presence. Websites defacements, denial of services, credit card and identity theft are just a few of the attacks that businesses are exposed to every day.
• If a security breach is taking place or has occurred, government agencies need to have a plan to quickly respond to the incident. In such situations, it is also necessary to ensure digital evidence is identified, preserved, and analyzed so that can be successfully presented in court.
• Financial institutions need also to keep in step with technology advancements while maintaining assets and information systems that are protected and secure.

To address these challenges, financial institutions must include security controls to their infrastructures to ensure the confidentiality, integrity and availability of the company’s information and communications.

How ERM can Help:

Assistance from specialists like ERM ease the burden of both interpreting requirements, keeping abreast of changing regulations, and fulfilling industry and federal demands.