Credit unions must be on high alert for cyberattacks. That’s according to a recent warning issued by the National Credit Union Administration (NCUA), who cautioned the industry of potential avenues of attack, including ransomware and supply chain attacks.
Such attacks pose grave threats to the nation’s financial organizations. Sensitive financial information can be breached, operations brought to a halt, and a credit union’s reputation tarnished. It’s no surprise then that the NCUA has encouraged eligible low-income credit unions to apply for up to $7,000 in funding to strengthen their cyber defenses.
In the face of evolving threats and daunting regulatory oversight, let’s look at how security and risk leaders in the sector can reduce cyber risk, make proper use of their investments, and engage in smart security measures.
Article Link: Cybersecurity for Credit Unions: 4 Ways to Reduce the Risk of the Next Attack