R. Kinney Williams - Yennik, Inc.
R. Kinney Williams
Yennik, Inc.

Internet Banking News
Brought to you by Yennik, Inc., the acknowledged leader in Internet auditing for financial institutions.

Remote offsite and onsite FFIEC IT Security Audits

June 16, 2024

Newsletter Content FFIEC IT Security FFIEC & ADA Web Site Audits
Web Site Compliance NIST Handbook Gold Standard Penetration Testing
Does Your Financial Institution need an affordable cybersecurity Internet security audit?  Yennik, Inc. has clients in 42 states that rely on our cybersecurity audits to ensure proper Internet security settings and to meet the independent diagnostic test requirements of FDIC, OCC, FRB, and NCUA, which provides compliance with Gramm-Leach Bliley Act 501(b) as well as the penetration test complies with the FFIEC Cybersecurity Assessment Tool regarding resilience testing The cybersecurity penetration audit and Internet security testing is an affordable-sophisticated process than goes far beyond the simple scanning of ports.  The audit focuses on a hacker's perspective, which will help you identify real-world cybersecurity weaknesses.  For more information, give R. Kinney Williams a call today at Office/Cell 806-535-8300 or visit http://www.internetbankingaudits.com/.
Bank regulatory FFIEC IT audits - I perform annual IT audits required by the regulatory agencies for banks and credit unions. I am a former bank examiner over 30 years of IT auditing experience. Please contact R. Kinney Williams at examiner@yennik.com from your bank's email and I will send you information and fees. All correspondence is confidential.


MISCELLANEOUS CYBERSECURITY NEWS:


FCC pushes ISPs to fix security flaws in Internet routing - The Federal Communications Commission wants to verify that Internet service providers are strengthening their networks against attacks that take advantage of vulnerabilities in Border Gateway Protocol (BGP). https://arstechnica.com/tech-policy/2024/06/fcc-pushes-isps-to-fix-security-flaws-in-internet-routing/

FCC launches $200 million program to bolster cybersecurity for schools and libraries.
https://therecord.media/fcc-program-for-schools-libraries-cyber-launched

FBI Says It Has 7,000 LockBit Ransomware Decryption Keys - At the 2024 Boston Conference on Cyber Security, Bryan Vorndran, assistant director of the FBIs Cyber Division, said the agency can help victims recover data encrypted by the LockBit ransomware.
https://www.securityweek.com/fbi-says-it-has-7000-lockbit-ransomware-decryption-keys/

FCC approves $200M for cybersecurity in schools - The U.S. Federal Communications Commission approved a $200 million program to improve cybersecurity in schools and libraries.
https://www.scmagazine.com/news/fcc-approves-200m-for-cybersecurity-in-schools

Cyberattacks are good for security vendors, and business is booming - More secure technology could stem the tide of cyberattacks, but digital threats are ever present.
https://www.cybersecuritydive.com/news/attacks-fuel-cyber-business/716782/

Multifactor authentication is not all its cracked up to be - Text message and email-based authentication arent just the weakest variants of MFA. Cybersecurity professionals say they are broken.
https://www.cybersecuritydive.com/news/multifactor-authentication-weaknesses/633399/

Microsoft, Google pledge 'low cost' cybersecurity services to rural hospitals - Rural hospitals will gain access to cybersecurity services at reduced prices thanks to a new initiative led by Microsoft, Google and the White House.
https://therecord.media/microsoft-google-rural-hospital-cybersecurity

What cybersecurity can learn from the automotive industry - Henry Ford was on to something with the Ford Motor Company. He wanted to democratize vehicle ownership and enable the masses to afford transportation.
https://www.scmagazine.com/perspective/what-cybersecurity-can-learn-from-the-automotive-industry

GAO - Urgent Action Needed to Address Critical Cybersecurity Challenges Facing the Nation.
https://www.gao.gov/products/gao-24-107231

CYBERSECURITY ATTACKS, INTRUSIONS, DATA THEFT & LOSS:

London Hospitals Cancel Operations and Appointments After Being Hit in Ransomware Attack - Several London hospitals said Tuesday that they had to cancel operations and send patients away because of a cyberattack on a company that supplies pathology laboratory services.
https://www.securityweek.com/london-hospitals-cancel-operations-and-appointments-after-being-hit-in-ransomware-attack/

Live Nation confirms jumbo breach, Ticketmaster customer data exposed - The live concert and entertainment giant disclosed the compromise days after reports began surfacing of a data breach. The company said it detected the intrusion on May 20.
https://www.cybersecuritydive.com/news/live-nation-ticketmaster-cyberattack/717787/

London hospitals face blood shortage after Synnovis ransomware attack - Negative blood donors to book appointments and donate after last weeks cyberattack on pathology provider Synnovis impacted multiple hospitals in London.
https://www.bleepingcomputer.com/news/security/london-hospitals-face-blood-shortage-after-synnovis-ransomware-attack/

Two cuffed over suspected smishing campaign using 'text message blaster' - Thousands of dodgy SMSes bypassed network filters in UK-first case, it is claimed - British police have arrested two individuals following an investigation into an SMS-based phishing campaign using some kind of homebrew hardware.
https://www.theregister.com/2024/06/10/two_arrested_uk_smishing/

New York Times Internal Data Nabbed From GitHub - The tranche of data, lifted from underprotected GitHub repositories, reportedly includes source code, though the country's paper of record has not yet confirmed the nature of the data accessed.
https://www.darkreading.com/cloud-security/new-york-times-internal-data-nabbed-from-github

LastPass says 12-hour outage caused by bad Chrome extension update - LastPass says its almost 12-hour outage yesterday was caused by a bad update to its Google Chrome extension.
https://www.bleepingcomputer.com/news/security/lastpass-says-12-hour-outage-caused-by-bad-chrome-extension-update/

Cyber incident forces Cleveland to shut down city hall - Cleveland shut its city hall Monday as officials investigate a cyber incident affecting some systems.
https://therecord.media/cyber-incident-cleveland-city-hall-shutdown
 

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WEB SITE COMPLIANCE - We continue covering some of the issues discussed in the "Risk Management Principles for Electronic Banking" published by the Basel Committee on Bank Supervision.
  
  Sound Authorization Practices for E-Banking Applications
  
  
1. Specific authorization and access privileges should be assigned to all individuals, agents or systems, which conduct e-banking activities.
  
  2. All e-banking systems should be constructed to ensure that they interact with a valid authorization database.
  
  3. No individual agent or system should have the authority to change his or her own authority or access privileges in an e-banking authorization database.
  
  4. Any addition of an individual, agent or system or changes to access privileges in an e-banking authorization database should be duly authorized by an authenticated source empowered with the adequate authority and subject to suitable and timely oversight and audit trails.
  
  5. Appropriate measures should be in place in order to make e-banking authorization databases reasonably resistant to tampering. Any such tampering should be detectable through ongoing monitoring processes. Sufficient audit trails should exist to document any such tampering.
  
  6. Any e-banking authorization database that has been tampered with should not be used until replaced with a validated database.
  
  7. Controls should be in place to prevent changes to authorization levels during e-banking transaction sessions and any attempts to alter authorization should be logged and brought to the attention of management.


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FFIEC IT SECURITY
- We continue our series on the FFIEC interagencyInformation Security Booklet.  
   
   SECURITY CONTROLS - IMPLEMENTATION - NETWORK ACCESS
   
   Network Configuration
   
   Computer networks often extend connectivity far beyond the financial institution and its data center. Networks provide system access and connectivity between business units, affiliates, TSPs, business partners, customers, and the public. This increased connectivity requires additional controls to segregate and restrict access between various groups and information users.
   
   A typical approach to securing a large network involves dividing the network into logical security domains. A logical security domain is a distinct part of a network with security policies that differ from other domains. The differences may be far broader than network controls, encompassing personnel, host, and other issues.
   
   Typical network controls that distinguish security domains include access control software permissions, dedicated lines, filtering routers, firewalls, remote-access servers, and virtual private networks. This booklet will discuss additional access controls within the applications and operating systems residing on the network in other sections. Before selecting the appropriate controls, financial institutions should map and configure the network to identify and control all access control points. Network configuration considerations could include the following actions:
   
   ! Identifying the various applications and user-groups accessed via the network;
   
   ! Identifying all access points to the network including various telecommunications channels (e.g., wireless, Ethernet, frame relay, dedicated lines, remote dial - up access, extranets, Internet);
   
   ! Mapping the internal and external connectivity between various network segments;
   
   ! Defining minimum access requirements for network services (i.e., most often referenced as a network services access policy); and
   
   ! Determining the most appropriate network configuration to ensure adequate security and performance.
   
   With a clear understanding of network connectivity, the financial institution can avoid introducing security vulnerabilities by minimizing access to less - trusted domains and employing encryption for less secure connections. Institutions can then determine the most effective deployment of protocols, filtering routers, firewalls, gateways, proxy servers, and/or physical isolation to restrict access. Some applications and business processes may require complete segregation from the corporate network (e.g., no connectivity between corporate network and wire transfer system). Others may restrict access by placing the services that must be accessed by each zone in their own security domain, commonly called a "demilitarized zone" (DMZ).

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NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY
- We continue the series on the National Institute of Standards and Technology (NIST) Handbook.

 Chapter 9 - Assurance
 
 9.4.1 Audit Methods and Tools
 
 An audit conducted to support operational assurance examines whether the system is meeting stated or implied security requirements including system and organization policies. Some audits also examine whether security requirements are appropriate, but this is outside the scope of operational assurance. Less formal audits are often called security reviews.
 
 Audits can be self-administered or independent (either internal or external). Both types can provide excellent information about technical, procedural, managerial, or other aspects of security. The essential difference between a self-audit and an independent audit is objectivity. Reviews done by system management staff, often called self-audits/ assessments, have an inherent conflict of interest. The system management staff may have little incentive to say that the computer system was poorly designed or is sloppily operated. On the other hand, they may be motivated by a strong desire to improve the security of the system. In addition, they are knowledgeable about the system and may be able to find hidden problems.
 
 The independent auditor, by contrast, should have no professional stake in the system. Independent audit may be performed by a professional audit staff in accordance with generally accepted auditing standards.
 
 There are many methods and tools, some of which are described here, that can be used to audit a system. Several of them overlap.
 
 A person who performs an independent audit should be free from personal and external constraints, which may impair their independence and should be organizationally independent.
 
 9.4.1.1 Automated Tools
 
 Even for small multiuser computer systems, it is a big job to manually review security features. Automated tools make it feasible to review even large computer systems for a variety of security flaws.
 
 There are two types of automated tools: (1) active tools, which find vulnerabilities by trying to exploit them, and (2) passive tests, which only examine the system and infer the existence of problems from the state of the system.
 
 Automated tools can be used to help find a variety of threats and vulnerabilities, such as improper access controls or access control configurations, weak passwords, lack of integrity of the system software, or not using all relevant software updates and patches. These tools are often very successful at finding vulnerabilities and are sometimes used by hackers to break into systems. Not taking advantage of these tools puts system administrators at a disadvantage. Many of the tools are simple to use; however, some programs (such as access-control auditing tools for large mainframe systems) require specialized skill to use and interpret.


PLEASE NOTE:
 
Some of the above links may have expired, especially those from news organizations.  We may have a copy of the article, so please e-mail us at examiner@yennik.com if we can be of assistance.