Unlike the financial disaster of 2008, the COVID-19 challenge is one that is not self-inflicted but a true “black swan” event from an external source, and is fueled by the lack of full understanding of this virus strain’s ability to spread. Also, unlike the financial crash in 2008 our banking system is strong and well capitalized. The regulating agencies have notified our financial institutions that they need to continue to be diligent in their internal auditing and risk assessments. They have also advised that they anticipate Cybercrime will increase to take advantage of the COVID-19 situation. To meet the guidelines by the administration to fight the spread of this virus, regulators have advised that they will go to remote bank and credit union examinations where possible.
NETBankAudit is prepared to do it’s part in our country’s organized resistance against this virus. We have been performing successful remote IT and Cybersecurity audit and risk assessment engagements since 2017. Our audit and risk assessment remote methodologies have been vetted and approved by both FRB and FDIC. We stand ready to support our clients and future clients with the highest quality of audit and risk support during this challenge.
Established in 2000, NETBankAudit began performing IT Audits and Cybersecurity audits and assessments soon after we were established. NETBankAudit began offering consumer compliance audit services in 2007 and BSA/AML audit services starting in 2010. Functioning as an “extension of our client’s internal audit function,” we serve each client individually based on circumstances, needs, and budget constraints. Quality of service, focus and affordability has allowed us to provide services to over 650 Financial Institutions, ranging in size from $15 Billion to $100 Million in assets in 30+ States since 2000. Currently we have over 300 institutions under contract for cybersecurity, regulatory audit and risk assessment services. See more detail at About Us.
Please feel welcome to review our services and capabilities and contact us for more information. We look forward to serving you!