While hacks of big banks often get the headlines, cybercriminals are increasingly shifting their focus to smaller banks and credit unions. In fact, the National Credit Union Association (NCUA) has made cybersecurity their top priority in 2016 with Cybersecurity Assessments and Response Programs being at the top of their Supervisory Priorities List.
Many credit unions believe in the “security through obscurity” strategy. The thinking goes that the large banks are the best targets and that credit unions aren’t targets as they are “under the radar”. Unfortunately, this is the strategy that hackers are depending on. While large banks have more assets and customers, they also have dedicated IT Security staff and are willing to spend a lot to improve security. This is why credit unions need to be particularly smart in deploying their limited resources on cybersecurity.
Understanding the current security environment is critical to developing a robust security posture. This is why performing regular cybersecurity assessments is a best practice by the NCUA. While many (most) credit unions don’t have the resources to dedicate a team to cybersecurity there are companies, such as Biscom, that can help.
Biscom’s Cybersecurity Consulting Practice can help credit unions assess and address their security needs. The core services of Biscom’s cybersecurity offering are: Current Risk Assessment, Vulnerability Assessment, Security Policy Assessment, and Education and Training. These offerings were built from Biscom’s decades of experience in security.
To learn more about our offerings, visit biscom.com or email us at [email protected]