Texas regulator, industry groups warn of increased cyber risk

State Issues Covid-19 Texas Banking Privacy/Cyber Risk & Data Security

On April 8, the Texas Department of Banking, the Independent Bankers Association of Texas and the Texas Bankers Association issued a joint notice warning that cybercriminals and nation state actors use times of crisis to exploit financial institutions. The notice urged institutions to warn employees and customers of social engineering, remind them of when online/virtual meeting platform links are expected and legitimate, and inform them of scams that are preying on Covid-19 fears. The notice also suggested institutions redistribute IT policies to employees and remind them about security expectations, and maintain secure connections for remote workers.