N.J. Bankers Association creates cyberrisk committee to address threats

The New Jersey Bankers Association on Friday said it formed a special cyberrisk committee to help address and prepare for potential cyber-related impacts to the New Jersey banking industry.

Led by an advisory board made up of cyberexperts from both member banks and associate member organizations, the committee concentrates on network technology and infrastructure, cloud processing, cyberdefense strategies, disaster recovery and threats and vulnerabilities. The committee will also work to help prevent all types of fraud against banks.

The committee will meet quarterly and will be on-call should a cyberevent, which could impact banking channels in the state or nationally, occur.

“Our financial institutions are under constant threat of cyberattacks from anywhere in the world. The work this committee is planning to undertake will help give both banks and customers piece of mind knowing the New Jersey banking industry is united in making sure our institutions are protected,” Jenn Zorn, executive vice president of education and professional development at NJBankers, and a committee member, stated.

New Jersey Bankers Association is a trade association representing 66 banks and 189 service providers.