May 18, 2023
The cover story of the latest issue of the ABA Banking Journal features an unprecedentedly transparent look into what happens inside a financial institution during and after a ransomware attack. On the latest episode of the ABA Banking Journal Podcast — sponsored by Intrafi — Evan Sparks shares the true story of this anonymized bank and how it tackled what could have become a crippling ransomware attack. Sparks discusses:
- How hackers got in, the early moments after an attack happens and how the bank responded.
- The current ransomware threat environment for banks.
- How to execute on a cyber incident playbook and mobilize partners and vendors.
- Messages and services the bank provided to customers during the incident.
- Fatigue and other challenges facing the bank’s team during the hack.
- Lessons learned and post-mortem changes the bank made to prevent a future incident.