Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

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
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 10/27/2020
Chinese Attackers' Favorite Flaws Prove Global Threats, Research Shows
Kelly Sheridan, Staff Editor, Dark Reading,  10/27/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-27652
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27653
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology Router Manager (SRM) before 1.2.4-8081 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27654
PUBLISHED: 2020-10-29
Improper access control vulnerability in lbd in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to execute arbitrary commands via port (1) 7786/tcp or (2) 7787/tcp.
CVE-2020-27655
PUBLISHED: 2020-10-29
Improper access control vulnerability in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to access restricted resources via inbound QuickConnect traffic.
CVE-2020-27656
PUBLISHED: 2020-10-29
Cleartext transmission of sensitive information vulnerability in DDNS in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to eavesdrop authentication information of DNSExit via unspecified vectors.