Bank regulators warn of increased cyber risk from Iran war
Bank regulators warn of increased cyber risk from Iran war
https://www.bankingdive.com/news/bank-cyber-risk-iran-war-regulators-cybersecurity/814564/
Publish Date: 2026-03-12 12:37:00
Source Domain: www.bankingdive.com
Regulators are warning financial institutions of increased cybersecurity risk amid the Iran war.
The California Department of Financial Protection and Innovation sent the firms it regulates a bulletin last week informing them of the need for heightened cyber awareness, said Christina Tetreault, a deputy commissioner with the DFPI.
With the military action occurring in the Middle East, Iran has said it will target financial institutions, specifically those in the region linked to the U.S. and Israel. Citi and Standard Chartered told staff not to come into offices in Dubai, The New York Times reported. Goldman Sachs has done likewise, according to Bloomberg. HSBC closed branches in Qatar.
Threats from the conflict in the region extend to the cyber realm, Tetreault indicated.
“Making sure that our licensees and covered persons really are vigorous in their cybersecurity defenses is very much part of what we’re working to do with bulletins and other advice and educational materials,” Tetreault said Wednesday during a Banking Dive-Payments Dive virtual event.
It’s also a topic of conversations between the state’s examiners and licensees, she noted. “We’re very eager to see people really fortify those defenses,” Tetreault said, because “we know that financial institutions are a target.”
Similarly, the New York Department of Financial Services issued a letter last week to chief information security officers of its regulated institutions, alerting them to increased risk of cyberattacks from global conflict, saying “recent events warrant vigilance.”
Late Wednesday, Michigan-based medical equipment company Stryker said it was experiencing a global network disruption due to a cyberattack, MedTech Dive reported. An Iran-linked threat actor that researchers call Handala claimed credit for the attack, according to Check Point Research.
Fitch Ratings warned Monday that hacktivists,…
