FDIC warns banks to update software patches

FDIC warns banks to update software patches

The US Federal Deposit Insurance Corporation (FDIC) is issuing guidance to financial institutions about the importance of maintaining an effective computer software patch management programme.

The guidance provides background information on the risks associated with software vulnerabilities and how they can be mitigated through an effective patch management programme.

The FDIC says that during the past year, many companies, including some financial institutions, have experienced security breaches that could have been prevented through the timely identification and patching of software vulnerabilities.

Although software vendors often develop an update - or patch - to correct identified weaknesses, it is the software user's responsibility to update systems or install patches in a timely manner.

To read the full guidance: Guidance on Developing an Information System Patch Management Program to Address Software Vulnerabilities

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