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

Internet Banking News
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Remote offsite and Onsite FFIEC IT Audits

June 26, 2022

Newsletter Content FFIEC IT Security FFIEC & ADA Web Site Audits
Web Site Compliance NIST Handbook 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/.
Remote bank regulatory FFIEC IT audits - I am performing virtual/remote bank regality FFIEC IT audits for banks and credit unions.  I am a former bank examiner with 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:

Russia Is Taking Over Ukraine’s Internet - WEB PAGES IN the city of Kherson in south Ukraine stopped loading on people’s devices at 2:43 pm on May 30. For the next 59 minutes, anyone connecting to the internet with KhersonTelecom, known locally as SkyNet, couldn’t call loved ones, find out the latest news, or upload images to Instagram. https://www.wired.com/story/ukraine-russia-internet-takeover/

Cybersecurity Professionals Identify Top Cloud Computing Security Risks - The Cloud Security Alliance (CSA) released this year’s “Top Threats to Cloud Computing” report, outlining the most prevalent security concerns that trouble cybersecurity experts today. https://healthitsecurity.com/news/cybersecurity-professionals-identify-top-cloud-computing-security-risks

Ban on sale of health data by brokers introduced in Senate ahead of abortion ruling - Sen. Elizabeth Warren, D-Mass., introduced legislation this week that would ban data brokers from selling consumer data, including health and location data. https://www.scmagazine.com/analysis/application-security/ban-on-sale-of-health-data-by-brokers-introduced-in-senate-ahead-of-abortion-ruling

CISA’s incident and vulnerability response playbooks: What they are, how to use them - In late 2021, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) released the Federal Cybersecurity Incident and Vulnerability Response Playbooks, aimed at providing a standard set of procedures for responding to vulnerabilities and incidents impacting federal civilian executive branch networks. https://www.scmagazine.com/resource/incident-response/cisas-incident-and-vulnerability-response-playbooks-what-they-are-how-to-use-them

Chainalysis launches stolen cryptocurrency tracking team for enterprise - Blockchain analysis-firm Chainalysis announced Wednesday a new investigative team to help recover stolen and scammed cryptocurrency, its first distinct product for enterprise. https://www.scmagazine.com/analysis/incident-response/chainalysis-launches-stolen-cryptocurrency-tracking-team-for-enterprise

CYBERSECURITY ATTACKS, INTRUSIONS, DATA THEFT & LOSS:

Another 1.3M patients added to data breach tally of ransomware attack on Eye Care Leaders - Approximately 1.29 million patients of Texas Tech University Health Sciences Center have been added to the ongoing fallout from the Eye Care Leaders ransomware attack and data theft from December 2021. https://www.scmagazine.com/analysis/ransomware/another-1-3m-patients-added-to-data-breach-tally-of-ransomware-attack-on-eye-care-leaders

Latin America governments are prime targets for ransomware due to lack of resources, analysis argues - Some Latin American countries may present as easy targets for ransomware attackers due to a general deficit of cyber resources, specifically education, hygiene and overall infrastructure. https://www.cyberscoop.com/latin-america-ransomware-recorded-future/

Jury Convicts Seattle Woman in Massive Capital One Hack - A federal jury on Friday convicted a former Seattle tech worker of several charges related to a massive hack of Capital One bank and other companies in 2019. https://www.securityweek.com/jury-convicts-seattle-woman-massive-capital-one-hack

Flagstar Bank discloses data breach impacting 1.5 million customers - Flagstar Bank is notifying 1.5 million customers of a data breach where hackers accessed personal data during a December cyberattack. https://www.bleepingcomputer.com/news/security/flagstar-bank-discloses-data-breach-impacting-15-million-customers/

Ransomware attack on Yuma Regional Medical leads to data theft for 700K patients - Yuma Regional Medical Center in Arizona recently notified 700,000 patients that their personal and health data was stolen ahead of an April ransomware attack. https://www.scmagazine.com/analysis/breach/ransomware-attack-on-yuma-regional-medical-leads-to-data-theft-for-700k-patients

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WEB SITE COMPLIANCE - OCC - Threats from Fraudulent Bank Web Sites - Risk Mitigation and Response Guidance for Web Site Spoofing Incidents (Part 3 of 5)
   
   
PROCEDURES TO ADDRESS SPOOFING - Information Gathering
   
   After a bank has determined that it is the target of a spoofing incident, it should collect available information about the attack to enable an appropriate response.  The information that is collected will help the bank identify and shut down the fraudulent Web site, determine whether customer information has been obtained, and assist law enforcement authorities with any investigation.  Below is a list of useful information that a bank can collect.  In some cases, banks will require the assistance of information technology specialists or their service providers to obtain this information.
   
   *  The means by which the bank became aware that it was the target of a spoofing incident (e.g., report received through Website, fax, telephone, etc.);
   *  Copies of any e-mails or documentation regarding other forms of communication (e.g., telephone calls, faxes, etc.) that were used to direct customers to the spoofed Web sites;
   *  Internet Protocol (IP) addresses for the spoofed Web sites along with identification of the companies associated with the IP addresses;
   *  Web-site addresses (universal resource locator) and the registration of the associated domain names for the spoofed site; and
   *  The geographic locations of the IP address (city, state, and country).


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FFIEC IT SECURITY - We continue our series on the FFIEC interagency Information Security Booklet.  
  
  
SYSTEMS DEVELOPMENT, ACQUISITION, AND MAINTENANCE
  
  Financial institution system development, acquisition, and maintenance functions should incorporate agreed upon security controls into software prior to development and implementation. Management should integrate consideration of security controls into each phase of the system development process. For the purposes of this section, system development could include the internal development of customized systems, the creation of database systems, or the acquisition of third-party developed software. System development could include long-term projects related to large mainframe-based software projects with legacy source code or rapid Web-based software projects using fourth-generation programming. In all cases, institutions need to prioritize security controls appropriately.
  
  SOFTWARE DEVELOPMENT AND ACQUISITION
  
  Security Requirements
  
  Financial institutions should develop security control requirements for new systems, system revisions, or new system acquisitions. Management will define the security control requirements based on their risk assessment process evaluating the value of the information at risk and the potential impact of unauthorized access or damage. Based on the risks posed by the system, management may use a defined methodology for determining security requirements, such as ISO 15408, the Common Criteria.23 Management may also refer to published, widely recognized industry standards as a baseline for establishing their security requirements. A member of senior management should document acceptance of the security requirements for each new system or system acquisition, acceptance of tests against the requirements, and approval for implementing in a production environment.
  
  Development projects should consider automated controls for incorporation into the application and the need to determine supporting manual controls. Financial institutions can implement appropriate security controls with greater cost effectiveness by designing them into the original software rather than making subsequent changes after implementation. When evaluating purchased software, financial institutions should consider the availability of products that have either been independently evaluated or received security accreditation through financial institution or information technology-related industry groups.


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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 19 - CRYPTOGRAPHY

19.2.3.1 Secret Key Electronic Signatures

An electronic signature can be implemented using secret key message authentication codes (MACs). For example, if two parties share a secret key, and one party receives data with a MAC that is correctly verified using the shared key, that party may assume that the other party signed the data. This assumes, however, that the two parties trust each other. Thus, through the use of a MAC, in addition to data integrity, a form of electronic signature is obtained. Using additional controls, such as key notarization and key attributes, it is possible to provide an electronic signature even if the two parties do not trust each other.

Systems incorporating message authentication technology have been approved for use by the federal government as a replacement for written signatures on electronic documents.

19.2.3.2 Public Key Electronic Signatures

Another type of electronic signature called a digital signature is implemented using public key cryptography. Data is electronically signed by applying the originator's private key to the data. (The exact mathematical process for doing this is not important for this discussion.) To increase the speed of the process, the private key is applied to a shorter form of the data, called a "hash" or "message digest," rather than to the entire set of data. The resulting digital signature can be stored or transmitted along with the data. The signature can be verified by any party using the public key of the signer. This feature is very useful, for example, when distributing signed copies of virus-free software. Any recipient can verify that the program remains virus-free. If the signature verifies properly, then the verifier has confidence that the data was not modified after being signed and that the owner of the public key was the signer.

NIST has published standards for a digital signature and a secure hash for use by the federal government in FIPS 186, Digital Signature Standard and FIPS 180, Secure Hash Standard.


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.