Credit unions are often prime targets for cyber criminals.Community banks and credit unions have special appeal for cyber attackers. They maintain large amounts of financial and personal data, but are perceived to lack the same well-fortified defenses that big banks utilize. In 2017, almost two-thirds of cyber breaches targeted small businesses, up from 53% in 2016, according to the Verizon Data Breach Investigations Report.
One reason for the spike is that cyber attackers have become more organized and sophisticated, leveraging dark web chat forums and government-grade software tools. Even credit unions with strong security protocols can be tripped up through spear fishing and social engineering attacks that target an individual employee’s credentials. The good news is that financial institutions of all sizes can sharply reduce their exposure by taking these proactive measures.
1. Combine multiple layers of monitoring and response protection. Single solutions like a strong firewall or antivirus measures can’t protect against every cyber threat. Comprehensive around-the-clock protection requires advanced endpoint…
