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ARTICLE · 04 MAY 2022

Will Banks Be Able To Comply With The New 36 Hour Cyber Notification Deadlines?

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This legislation is crucial because timely notification plays a significant role in restricting an attack's scale, especially for institutions dependent on threat intelligence for defensive capability,..

United StatesTechnology
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BankInfoSecurity.com reported that "New cyber incident reporting rules are set to come into effect in the U.S. on May 1. Banks in the country will be required to notify regulators within the first 36 hours after an organization suffers a qualifying "computer-security incident."  The April 29, 2022 report entitled "New US Breach Reporting Rules for Banks Take Effect May 1" included these comments from Marcus Fowler (senior vice president of strategy engagements and threats at cybersecurity AI firm Darktrace):

This legislation is crucial because timely notification plays a significant role in restricting an attack's scale, especially for institutions dependent on threat intelligence for defensive capability,..

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