What is the FFIEC Cybersecurity Assessment Tool?

The FFIEC Cybersecurity Assessment Tool (CAT) is a diagnostic test designed to help institutions identify risks and gauge cybersecurity preparedness. The tool is primarily for financial and non-depository institutions, enabling organizations to make risk-driven security decisions informed by regular cybersecurity assessments and standardized risk measurement criteria. While it is voluntary, financial institutions have expressed concern that failing to use it could result in falling short of compliance standards. In this article, we will explore what the FFIEC CAT is, as well as how and why you…