Threat Intelligence

10/24/2016
04:15 PM
50%
50%

New Financial System Analysis & Resilience Center Formed

Associated with Financial Services ISAC (FS-ISAC), the new FSARC works more closely with government partners for deeper threat analysis and systemic defense of financial sector.

In tandem with its long-standing intelligence-sharing organization, the American financial services industry has formed an organization working on its strategic, systemic cyber-defense and resilience. The formation of this new Financial Systems Analysis and Resilience Center (FSARC) was announced by the Financial Services Information Sharing and Analysis Center (FS-ISAC), today.  

FSARC is the brainchild of eight large banks that are members of FS-ISAC - Bank of America, BNY Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street, and Wells Fargo. Through FSARC, large banks will have "closer collaboration" with government partners in the FBI, Department of Homeland Security, and US Department of Treasury. 

While FS-ISAC continues to be focused on distributing timely information about active threats, FSARC will take a longer view -- performing deeper analysis to create long-term strategies to address systemic risks across financial products and practices.

As Andrew Hoerner, FS-ISAC vice president of communications explains, "FS-ISAC is focused on real-time threat intelligence sharing for incident response and prevention. FSARC is focused on proactive analysis at a meta level to identify and analyze threats and risks across the sector and come up with solutions to prevent emerging threats and risks."

FSARC will use the same "circle of trust" membership model used by FS-ISAC. Bank of America’s Siobhan MacDermott and JPMorgan’s Greg Rattray will serve as interim Co-Presidents "until the center reaches full operational capability." 

The formation of FSARC comes on the heels of (but not in response to) US bank regulators' releasing draft rules for cybersecurity that would require financial services organizations to (among other things) recover from any cyberattack within two hours, and finance leaders at a G7 meeting pushing a global financial cybersecurity framework.  

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
'PowerSnitch' Hacks Androids via Power Banks
Kelly Jackson Higgins, Executive Editor at Dark Reading,  12/8/2018
Windows 10 Security Questions Prove Easy for Attackers to Exploit
Kelly Sheridan, Staff Editor, Dark Reading,  12/5/2018
Starwood Breach Reaction Focuses on 4-Year Dwell
Curtis Franklin Jr., Senior Editor at Dark Reading,  12/5/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: This comment is waiting for review by our moderators.
Current Issue
10 Best Practices That Could Reshape Your IT Security Department
This Dark Reading Tech Digest, explores ten best practices that could reshape IT security departments.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-2486
PUBLISHED: 2018-12-11
SAP Marketing (UICUAN (1.20, 1.30, 1.40), SAPSCORE (1.13, 1.14)) does not sufficiently encode user-controlled inputs, resulting in Cross-Site Scripting (XSS) vulnerability.
CVE-2018-2492
PUBLISHED: 2018-12-11
SAML 2.0 functionality in SAP NetWeaver AS Java, does not sufficiently validate XML documents received from an untrusted source. This is fixed in versions 7.2, 7.30, 7.31, 7.40 and 7.50.
CVE-2018-2494
PUBLISHED: 2018-12-11
Necessary authorization checks for an authenticated user, resulting in escalation of privileges, have been fixed in SAP Basis AS ABAP of SAP NetWeaver 700 to 750, from 750 onwards delivered as ABAP Platform.
CVE-2018-2497
PUBLISHED: 2018-12-11
The security audit log of SAP HANA, versions 1.0 and 2.0, does not log SELECT events if these events are part of a statement with the syntax CREATE TABLE <table_name> AS SELECT.
CVE-2018-2500
PUBLISHED: 2018-12-11
Under certain conditions SAP Mobile Secure Android client (before version 6.60.19942.0 SP28 1711) allows an attacker to access information which would otherwise be restricted.