Quantum computing, big data, blockchain, fintech, cloud computing and the internet of things (IoT) are all buzzwords across the financial services sector. While these technologies are exciting, security measures must adapt and evolve to keep up with the inevitable challenges that emerge as bad actors change their methods of compromising digital infrastructures. The Federal Reserve knows it’s important to understand the implications of these new technologies and continues to stress the importance of cybersecurity in maintaining the resiliency of Federal Reserve Financial Services.

In honor of National Cyber Security Awareness Month, we want to highlight a few cybersecurity tips from the U.S. Department of Homeland Security (DHS) that could help your organization reduce risk. For more information, please visit the Stop.Think.Connect.TM Campaign (Off-site) page.

  1. Keep a clean machine: Regularly scan your personal and office devices for viruses and spyware and keep your software up to date.
  2. Avoid oversharing online: Remember your organization’s security standards and be careful what you say, especially in public settings.
  3. Protect your password: Always opt to enable stronger authentication when available, especially for accounts with sensitive information, including your email, medical files or bank accounts.
  4. Stay protected while connected: Before you connect to any public wireless hotspot, be sure to confirm the name of the network and login procedures with appropriate staff to ensure that the network is legitimate.
  5. Play hard to get with strangers: Cyber criminals will often offer a financial reward, threaten you if you don’t engage or claim that someone is in need of help. Don’t fall for it!

When it comes to security, communication and collaboration among stakeholders are critical toward progress. Cybersecurity will continue to be a focus for the Federal Reserve as the industry moves forward with emerging technologies. We encourage your organization to work with your technical and executive staff to regularly review your security posture and determine any potential gaps. Stay tuned to Fed360® for more risk management articles in the future.

“Stop. Think. Connect” is a trademark of the Department of Homeland Security.