Latest NCUA Warning: Be Sure Your Cyber Defenses are Ready

While news coverage has tapered off, the NCUA wants to make sure federally insured Credit Unions are doing everything possible to prevent and prepare for malware attacks like the WannaCry ransomware attack that affected more than 300,000 victims in 150+ countries.

“The reality is, it’s not a matter of ‘if’ your Credit Union is being targeted with this kind of attack,” said Brian Hoppe, Chief Technology Officer at Data Systems-Sharetec. “Several studies have shown that an average business is being targeted up to 60 times a day with phishing, malware, or ransomware attacks.”

Read the NCUA bulletin HERE.

To safeguard against cyber-attacks, Data Systems-Sharetec suggests the following steps:

  • The first line of defense against such attacks must be employee education. It’s important for network users to know the warning signs of cyber-attacks and how best to respond.
  • Install a Managed Firewall and a Managed Intrusion Prevention System. These IT security tools monitor and report – in real time – on all your network activity.
  • Carry out annual Network Penetration Testing to identify and resolve vulnerabilities before they can be exploited.
  • Set up redundant off-site data backup and disaster recovery tools.

For questions on IT Security tools or best practices for Credit Unions, call Data Systems-Sharetec today.

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