Safe Systems’ compliance VP Tom Hinkel covers XP end of life implications for financial institutions
In just about one month (April 8, 2013, to be precise), Microsoft will cease its support for Windows XP, officially rendering the nearly 13-year-old operating system obsolete. But that doesn’t mean businesses and financial institutions aren’t still using it. By some reports, it still holds a 29% market share among computers that connect to the Internet.
Those banks and credit unions still on XP will be well served in understanding the operational impact it may have going forward. In fact, the FFIEC issued a joint statement regarding XP’s end of life last October, as reported on Compliance Guru. The regulatory council recommended that all institutions closely examine their current usage of Windows XP devices, both within their institutions, and among critical third parties and service providers. But with reports of hackers stockpiling “zero-day” exploits, the actual risks may be understated. And other risks could be lurking beyond the institution and its service providers. What about XP usage among your high-risk electronic banking and RDC customers?
Tom Hinkel, Safe Systems’ vice president of compliance, has extensively covered the topic of XP’s end of life from the perspective in which it could impact a financial institution over time. In the above webinar he addresses the implications it has on compliance and risk management, and how it could specifically affect vendor support and high-risk customers.
Click here to view and share the full presentation on YouTube.