Independent Banker - April 2020 - 34

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Featuring:
Dan Putney
Managing Director
Northeast Region
Security, a Mastercard company in
Vancouver, Canada. " Largely, [attackers]
are getting better at targeting and
response rates, " Capps says. " They are
crafting more convincing messages to
convince someone to open the message
and take an action. We've seen
more thought put into sending attacks
to specific organizations and individuals,
instead of blanketing an entire list
of email addresses. "
A multi-pronged approach
Most community bankers know their
institutions can become targets of ransom-seeking
attackers even though
they're not global brands and might
lack the deep pockets of megabanks.
With that in mind, community banks
have been upping their game in hope
of preventing hacks or at least mitigating
their impact.
Good tech is key to creating a
workplace that captures and retains
all-star talent. In many cases,
strong talent is lost or wasted due
to inefficiencies and frustration
from outdated tools. With purposeful
innovation in the right financial
technology you can make the
workplace more enjoyable for your
employees and more profitable for
your institution.
3 steps to secure
data backups
Kyle Kunnen, senior vice
president and information
security officer at Mercantile
Bank of Michigan in Grand
Rapids, Mich., endorses the
" 3-2-1 " method of maintaining
corporate and customer data:
Make three copies
of data
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Keep it backed up on
two different types of
storage media
Keep at least one
copy off-site
According to Capps, many community
banks have implemented a
multifaceted defense strategy that
includes phishing and email safety
education training for staff, technical
security controls for systems and
devices, effective data and system
backups, and disaster recovery and
information security incident management
procedures.
" There's an awareness that phishing
and malware risks are ever present and
a need for employees and consumers to
be vigilant in their online interactions, "
he says. " It's legitimately difficult to
cover all possible ways a device can
become infected with ransomware. "
More community banks are outsourcing
their core systems and
keeping less account holder data in
their on-premise networks to reduce
attacks, says Tom Wojcinski, a director
of risk advisory services practice
at Wipfli, an accounting and business
consulting firm in Milwaukee.
Wagers agrees that most banks " are
spending more time on vendor management
... with an eye toward control
systems and stability and business
continuation programs. It's critical
if we're sharing information with a
third party. "
Whether on-premise or outsourced,
Kunnen says that Mercantile Bank of
Michigan, like many banks, has taken
steps to make sure that it keeps data
current and backed up frequently.
" With ransomware, if you don't have
the tools to catch it quickly enough, "
Kunnen says, " the backups are the
only thing to save you. "
He adds that security and IT managers
should consider how long it will
take to recover those data backups
and discuss with senior management
how to handle ransom demands as
part of their incident response strategy.
" Community banks are starting to
have those hard discussions, " he adds.
Tyler Leet, director of risk and compliance
services at CSI, a banking
technology provider in Paducah, Ky.,
says perhaps most importantly, banks
are developing a " culture of security "
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Independent Banker - April 2020

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