February 16, 2021

This disclosure, or something like it, is now regularly included in documentation by municipal issuers. While we would love to have more details than that, the exact magnitude of the pandemic’s repercussions on state and local finances still cannot be accurately determined.

When Congress pushed through the National Defense Authorization Act for fiscal year 2021, the banking industry breathed a sigh of relief with the glimmer of hope for the potential elimination of excessive regulatory burdens under the Bank Secrecy Act.

Combating a ransomware scenario can be intense and stressful, so most organizations agree that it is better to stop the attack from happening in the first place. Below you will find the top six controls that can be put in place to protect your organization’s network and data from a ransomware attack.

The Evolution of Ransomware
Ransomware has existed for many years now. One of the first instances of encryption malware can be traced to the PC Cyborg virus in 1989 . And the ransom payment for the decryption process began in 2005 and continued in several different strains. But, in 2011, cryptocurrencies began to emerge which allowed for global payments outside of the traditional banking processes. The rise of Bitcoin and other cryptocurrencies led to a rise in the ransomware attacks because the payment of the ransom could be conducted with relative ease and anonymity.

NEBRASKA BANKING FRIENDS:
Nebraska bankers all too often have a front-row seat when it comes to witnessing the financial understanding, or lack thereof, of their fellow Nebraskans and customers. We know that poor financial decision making can lead to extreme personal and professional hardships. Acquiring a solid understanding of financial concepts is an important skill set that is learned starting at an early age, both at home and through our education systems. While Nebraska has made strides in recent years to improve the financial education efforts within our school systems, more needs to be done!