OCC BULLETIN 2015-20
Date: March 30, 2015
To: 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
Description: Destructive Malware Joint Statement
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.
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
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.