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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.

Cybersecurity Updates

Aug 26th, 2021

TO:                  Chief Executive Officer of the Institution Addressed

FROM:            Susannah T. Marshall, Bank Commissioner

RE:                  Cybersecurity Updates

DATE:            August 26, 2021

Joint Treasury and DHS Ransomware Letter to Industry

Last week, Treasury Secretary Yellen and DHS Secretary Mayorkas issued a letter to the financial sector community regarding their concerns about the growing threat posed by malicious cyber actors and ransomware (see attached letter).

Cybersecurity and Infrastructure Security Agency (CISA) Issues Recommendations for Protecting Information from Ransomware-Caused Data Breaches

Last week, CISA released the Protecting Sensitive and Personal Information from Ransomware-Caused Data Breaches fact sheet. The fact sheet addresses the increase in malicious cyber actors using ransomware to exfiltrate data and then threatening to sell or leak the exfiltrated data if the victim does not pay the ransom. The fact sheet provides information for organizations to use in preventing and responding to ransomware-caused data breaches.

CISA encourages organizations to adopt a heightened state of awareness and implement the recommendations listed in this fact sheet to reduce their risk to ransomware and protect sensitive and personal information. Visit https://www.cisa.gov/stopransomware  for additional ransomware resources

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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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