Understanding the credit union board’s role in cybersecurity

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Ask tough questions to ensure your credit union can combat, and rebound from, an attack.by: David A. ReedIn recent months, credit unions have battled wave after wave of merchant data breaches, computer viruses, and cyberattacks, generating a wealth of media coverage on cybersecurity.As a result of these evolving threats, credit unions and examiners alike continue to emphasize the importance of protecting a credit union’s networks, computers, programs, and member data from cyberattacks (NCUA Letter to Credit Unions 15-CU-01: “Supervisory Priorities for 2015”).Credit unions have always prioritized protecting members’ personal financial information. But gone are the days when embezzlements, robberies, and forged items represented the primary security concerns. Credit unions operate in a rapidly changing environment where technology is an essential element of their operations because members demand more remote services—such as Internet banking and bill pay, mobile banking, and a variety of other technology related services. continue reading »last_img

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