In 2023, NETBankAudit performed 265 audit engagements, including IT, Operations, BSA and Compliance. We also performed 793 cyber-based engagements, including penetration, system and process assessments and social engineering testing. Based on our analysis of these engagements, a survey of examination and audit issues was collected to assist our clients in identifying commonly reported examination and audit issues. An outline of hot topics, concerns, and trends is also provided.  

Ransomware is a type of malicious software (malware) that encrypts data on a computer, making it difficult or impossible to recover. Given the significant increase in ransomware attacks, financial institutions are encouraged to perform a ransomware assessment to identify and mitigate associated risks.