Credit unions are now on the hit list for Cyber Criminals. Many credit unions are wondering what they need to do in order to avoid a cyber-attack. There are many measures that can be taken to help protect the credit union, the most important is the training of staff as a frontline defence.
Staff and Volunteers must be vigilante in spotting any suspicious transactions and communications, this can only be achieved by education and training. So what are we looking for?
* “Tactics of Malicious Cyber Adversaries
The list is long and growing, especially as we move to mobile platforms and rely on social media for communication:
- Targeted spear-phishing campaigns.
- Ransomware attacks.
- Distributed denial of services.
- Business e‑mail compromise leading to fraudulent wire transfers.
- Supply chain threats (including hardware and software integrity).
- Blended physical and cyber-attacks.
- Insider threats.
- Social media account hacking.
- Destructive malware.”
Many of these attacks can be initiated as a simple email to staff member. * “According to the Department of Homeland Security (United States), 71% of cyber threats come through phishing, so address the risk through education and training.”
Credit unions should identify procedures for dealing with any malicious emails.