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FDIC Starts IT Assessment In Series of Data Security Efforts

cybersecurityThe Federal Deposit Insurance Corp. has implemented several measures that aim to protect information from breaches and other cyber threats.

Some of the efforts that FDIC launched in the past several months include the expanded use of multi-factor authentication to access assessment invoices and official correspondence as well as the appointment of a third-party independent firm to evaluate FDIC’s privacy and information technology security initiatives, FDIC said Tuesday.

FDIC noted the third-party firm’s end-to-end assessment of IT programs started in early August.

The bank account insurance agency said it signed a memorandum of understanding to facilitate the adoption of a Department of Homeland Security system that works to detect and prevent cyber threats and implemented controls to monitor printed sensitive materials in high-risk areas.

FDIC introduced the measures after it submitted to Congress a retroactive report on five data breaches that have occurred at the agency since October 2015.

The agency said it also encrypted its laptop hard drives and sensitive data, implemented a data loss prevention initiative and required employees to participate in annual privacy and security training activities, among other efforts.

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