Strengthen your defenses – Preparing for ransomware attacks
Abstract: In the past, smaller banks might reasonably have believed that cybercriminals would leave them alone, because larger institutions offered a bigger payoff. Recently, however, the trend has reversed. This article explains that cybercriminals are now targeting small banks, which they believe lack the wherewithal to protect against these attacks and have less robust internal controls than larger institutions. It suggests some protective measures community banks can take and stresses the importance of having a plan in place to reduce risk and mitigate potential damages.