FFIEC Recommends Standardized Cybersecurity Assessment Tools

The Federal Financial Institutions Examination Council (FFIEC) recently made an announcement encouraging a standardized approach among financial institutions to cybersecurity assessment and preparedness.  The Council noted that institutions are better able to track preparedness and share best practices with one another and with regulators when standardized assessment tools are implemented.  Four standardized tools recommended by FFIEC include the (i) FFIEC Cybersecurity Assessment Tool, (ii) Financial Services Sector Coordinating Council Cybersecurity Profile, (iii) National Institute of Standards and Technology Cybersecurity Framework, and (iv) Center for Internet Security Controls.