An official website of the United States government
OCC Bulletin 2015-20
March 30, 2015
Share This Page:
Chief Executive Officers of All National Banks, Federal Branches and Agencies, Federal Savings Associations, Technology Service Providers, Department and Division Heads, All Examining Personnel, and Other Interested Parties
The Federal Financial Institutions Examination Council (FFIEC), 1 on behalf of its members, has issued a statement to notify financial institutions of the increasing threat of cyber attacks involving destructive malware and to recommend risk mitigation techniques. In some cases, destructive malware used in these attacks successfully compromised large quantities of data and rendered supporting systems inoperable. An institution's management is expected to maintain sufficient business continuity planning processes to ensure the rapid recovery, resumption, and maintenance of the institution's operations after a cyber attack involving destructive malware.
Community banks should test their incident response and business continuity plans and understand their responsibilities in the event of cyber attacks at their institutions or involving their third-party service providers.
In accordance with regulatory requirements and FFIEC guidance, national banks and federal savings associations (collectively, banks) should take appropriate risk mitigation steps, including the following:
Please contact Valerie Abend, Senior Critical Infrastructure Officer, Operational Risk Division, at (202) 649-6550.
Bethany A. Dugan
Deputy Comptroller for Operational Risk
1 The FFIEC comprises the principals of the following: Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, and State Liaison Committee.