State Bank Regulators Announce Cyber Risk and Security Conferences

SPRINGFIELD – Underscoring Governor Rauner’s efforts to promote October as National Cyber Security Awareness Month, the Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking will be hosting two Cyber Risk and Security Conferences designed specifically for the executive leadership of Illinois banks and credit unions. Cyber and data security continues to be one of the top regulatory concerns of the financial industry, as criminals continue to seek out new opportunities to breach financial data systems.

“Criminals are always on the hunt for new, creative ways to obtain money and highly-sensitive data from our state’s financial institutions and its customers,” said Michael Mannion, Director of Banking at IDFPR. “As our society becomes more dependent upon electronic devices to bank and shop online, our vulnerabilities grow. By hosting these cyber risk and security conferences, we hope to provide our banks and credit unions with added information and tools to combat a new breed of bank robbers, the cyber thief.”

The Cyber Risk and Security Conferences will address current cyber threats and outline questions every bank and credit union should be discussing about cyber preparedness and response. The conferences will also address the recently issued Cyber Self Assessments and will provide the opportunity to hear from an Illinois banker who was recently the subject of a cyber attack. The United States Secret Service will also be on hand to address current trends and the globalization of cyber crimes.

“Critical infrastructure sectors, including our financial industry, are increasingly reliant on information systems to support practically every aspect of their business operations,” said Bryan Schneider, IDFPR Secretary. “Maintaining the security of cyberspace is a shared responsibility in which each of us plays a critical role. Efforts to shed awareness of computer security essentials will not only improve the security of our financial industry’s infrastructure, it will improve the security of our state’s economy.”

The Cyber Risk and Security Conferences will be held on November 9th in Burr Ridge and on November 16th in Springfield. The Conference of State Bank Supervisors is co-hosting the conferences.