ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release October 31, 2001 #01-74
E-mail: [email protected]

AMERICA’S COMMUNITY BANKERS FORMS ALLIANCE TO TEST, MONITOR COMMUNITY BANKS’ INTERNET SECURITY

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WASHINGTON, D.C. — America’s Community Bankers announced a program today that will help its community bank members quickly and effectively assess the security of their Internet connections so they can, if necessary, implement appropriate and affordable risk management measures. The program is being offered by ACB’s subsidiary, ACB Partners, Inc., through a new alliance partner, SecurePipe Inc., a provider of managed Internet security services.

“The recent FBI cyber-alert that included financial institutions as potential targets underscored the fact that bankers, even more so than other small- to mid-sized businesses, need to have a heightened sensitivity to information security and Internet connection vulnerabilities,” said Mike Potter of ACB’s Partners. “With increasing frequency, community banks are being driven to seek external expertise in order to appropriately assess vulnerabilities, create action plans, and stay abreast of continuously evolving threats, such as the recent Nimda virus that affected business throughout the country.”

Potter said that information security, remote vulnerability testing, and outsourced 24/7 monitoring are critical topics for community bankers who are considering their risk management options in light of the growing sophistication and frequency of cyber attacks. “We’re delighted to bring ACB members advantaged access to a full range of Internet security services that are substantially more powerful and state-of-the-art than all but the largest businesses could afford to accomplish on their own, and at a much lower cost than other current solutions,” he said.

“Unfortunately, current data suggest that over 85 percent of community bank firewalls have vulnerabilities stemming from configuration problems or missing updates,” said SecurePipe founder Lawrence Levine. “The threats to Internet and e-mail security are multiplying at such a rate that expert, round-the-clock monitoring and scheduled testing are a virtual requirement.”

To encourage ACB members to assess the security of their existing Internet connections, SecurePipe has negotiated special rates for ACB members. The company is also working with ACB Partners to develop a status report on the current level of vulnerability awareness and security protocols at community banks. Details of this study will be available to ACB members in the near future.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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