A while back we reported on a Cybersecurity Assessment Tool created by the Federal Financial Institutions Examination Council (FFIEC), of which NCUA is a member. This week, the FFIEC also published an accompanying frequently-asked-questions guide. The guide answers questions and clarifies points in the assessment and supporting materials based on questions received by FFIEC members since release of the assessment tool.The Cybersecurity Assessment Tool is not mandated to be used by financial institutions. The tool can be used by management to determine the institution’s inherent risk and cybersecurity preparedness. Credit unions may use the Assessment, or another framework, or another risk assessment process to identify their risk and preparedness.
See the Cybersecurity Assessment Tool FAQ online. Detailed information about the Tool is on the FFIEC website.
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