Posts in Category: American Bankers Association

Blog Post List

ABMI announces 27th consecutive distribution to participating banks 

$82.7 million has been declared in total distributions since 1991

American Bankers Mutual Insurance, Ltd. announced a distribution for the 27th consecutive year. 1,037 members of the American Bankers Association (ABA) that have D&O, Financial Institution Bond and related insurance from ABA Insurance Services were eligible to share $1.5 million.

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Ransomware information resources available on aba.com 

From American Bankers Association
Documents to help you identify various forms of malware, outline preventative measures, business continuity considerations, and know what to do if infected with ransomware and how law enforcement can assist are now available at a newly created ransomware issue page from the American Bankers

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Prevent the ransomware epidemic from infecting your organization 

by Heather Wyson-Constantine, Vice President of Payments and Cybersecurity, American Bankers Association

By now, you’ve mostly likely heard the news: ransomware is here and it’s a problem. The impact can be devastating. Imagine not being able to access your email, customer information or vital records for days or even weeks. Victims not only face monetary losses associated with the ransom and loss of business during the downtime, but also the additional forensics costs, the loss of employee productivity and, most importantly, customer trust.

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Webinar Video: The Ins & Outs of Cyber Insurance 

Original broadcast: March 31, 2016

Now available for viewing: Moderated by American Bankers Association's Doug Johnson. Pete Hilbert and Mike Read of ABA Insurance Services provided insight into identifying cybersecurity exposures, what’s current in the cyber insurance industry and the details behind most cyber insurance policies. 

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FREE Webinar recording: What bankers need to know about cyber insurance 

Originally broadcast July 23, 2015, this cyber insurance webinar is now available for free for playback/download. Gain an understanding of cyber insurance basics, including key coverage components with claims examples. Recent industry changes as well as buying considerations are also reviewed. Click on "Read more" below for more details and to playback or download the presentation.

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FBI issues bulletins on Dyre and Carbanak malware 

The FBI released several updates and bulletins to the banking industry regarding two different malware: Dyre and Carbanak/Anunak. The Dyre malware is being used with social engineering in order to get around two-factor authentication typically required by banks for large wire transfers.

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The importance of having a breach response plan in place 

The possibility of a bank’s systems being hacked are increasing, regardless of the size of the bank. In addition to the well-publicized breaches of mega and regional financial institutions, we are witnessing more reports of attacks on smaller community banks. Your bank should have a workable breach response plan in place on which your staff can quickly rely and follow immediately upon the discovery of a breach.

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