Mitigation

FS-ISAC said the rapid digitization of the financial services sector has led to an increase in global cyber threats in 2021, specifically cyberattacks targeting third-party suppliers and critical zero-day vulnerabilities.

The Senate passed the $1.5 trillion omnibus to fund the government through Sept. 30 with ICBA-advocated provisions related to the SBA’s 504 loan program, LIBOR, and cyber incident reporting.

The Securities and Exchange Commission and Commodity Futures Trading Commission announced separate charges related to digital asset-related fraud.

The Treasury and State departments announced additional sanctions on Russian individuals and companies for supporting the Russian government despite existing sanctions.

The Biden administration is reportedly expected to release an executive order on regulating digital assets next week.

A new ICBA blog post spotlights the key community banker takeaways of recent Federal Reserve reports on the possibility of a future U.S. central bank digital currency.