OCC warns on cyber risks from subpar patches at US banks

Regulator says banks have good track record overall, but exams reveal weaknesses

Weak point: patch management is one soft spot through which attackers can penetrate a bank’s outer perimeters

Banks have relatively good cyber defences compared with other industries, but still remain worryingly vulnerable, regulators say. The US Comptroller of the Currency (OCC), in its role as guarantor of the safety and soundness of the banking system, has found weaknesses in controls and governance related to information security.

Patch management – the application of fixes or updates when vulnerabilities are identified in software – and access management are of particular concern, because they are

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