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Arkansas State Bank Department

The mission of ASBD is to maintain a legal and regulatory structure for Arkansas's financial industry. This structure provides the public with convenient, safe and competitive banking, which fosters economic development within this State. Our mission is accomplished through efficient allocation of available human and other resources existing in our Examination, Information Technology and Administrative Services Divisions.

Self-Assessment Tool for Mitigating the Risks of Ransomware

Oct 19th, 2020

October 19, 2020
To: Chief Executive Officer  
Subject: Self-Assessment Tool for Mitigating the Risks of Ransomware 
Ransomware has become the top cybersecurity threat today and incidents are in the news almost daily. The attached Ransomware Self-Assessment Tool (R-SAT) was developed to assist your institution in mitigating this risk.  The R-SAT is a brief questionnaire that walks you through key measures to protect your bank and to communicate and discuss with your Board the measures you have taken. 
The R-SAT was developed by a national task force of community bank CEOs in partnership with state bank regulators and the US Secret Service. It was specifically developed to address the unique needs of community financial institutions.  We think you will find it a very helpful resource and we strongly encourage you to complete the tool as soon as possible, as ransomware threats continue to escalate and expand.  Please submit the completed questionnaire to the State Bank Department at by March 31, 2021.
Because of the extreme impact that Ransomware can have, our agency will be contacting you during the first half of 2021 to discuss your progress in implementing Ransomware mitigation measures.  Although we will review all aspects, we will focus discussion on your backup practices and efforts to implement multi-factor authentication. 
If your financial institution is scheduled for an IT examination between now and the end of the second quarter 2021, we will review your completed R-SAT during the upcoming examination.  If you are not scheduled for an IT examination prior to June 30, 2021, our agency will call your institution to conduct our review of the R-SAT.
Due to the increased use of Ransomware by adversaries and the severe impact it can have on the community banking industry, we are working with the US Treasury Department to schedule tabletop exercises in the coming months for bank CEOs and a member of their technical staff.  These will most likely be held virtually.  We will send more information and registration details as we get the tabletops scheduled for our state.  
If you have any questions regarding the R-SAT, please contact Jeff Cameron, IT Exam Manager at 501-324-9019 or or Donna Dodge, Certified Senior Examiner at

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The Great Seal of Arkansas

The State Bank Department was created by Act 113 of 1913. The Department is charged with regulating commercial banks with main offices in Arkansas. These 73 banks hold assets of over $132.4 billion as of June 30, 2021. The Department also is charged with supervising the bank holding companies of Arkansas state-chartered banks; state-chartered trust companies; regional and county industrial development corporations; industrial loan institutions; and capital development companies. The Department operates to ensure the safety and soundness of, and public confidence in, these institutions and organizations.

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