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CU System
CUNA council white paper focuses on technology security
MADISON, Wis. (7/29/11)--Security issues continue to evolve with the introduction of new technology and the development of new tactics by fraudsters. That makes creating barriers to repel intruders an ongoing challenge, according to according to a new CUNA Technology Council White Paper. “Technology Security: Mitigating Current Threats and Emerging Challenges” is based on information gathered from six information technology (IT) leaders at credit unions and five experts from security and technology firms. The white paper discusses measures that credit unions can take to strengthen security, including:
* Restricting Internet access to employees based on a case-by-case review; * Providing ongoing training for employees on security policies, risky behavior and social engineering; * Taking an enterprise-wide approach to security with measures such as naming a designated security officer; * Scrutinizing vendors, which is especially important for new technologies such as cloud computing and mobile banking; * Developing policies and procedures to address the use of social media, which poses a potential risk to the credit union’s reputation; and *Strengthening multi-factor authentication to repel intruders and comply with Federal Financial Institutions Examination Council supplemental guidance on authentication issued in June.
Security threats are an everyday part of the electronic exchange of ideas, data and funds in today’s marketplace. While these concerns cannot be avoided entirely, the white paper offers measures that credit unions can take to mitigate risk as they continually take aim at the moving target of technology security. The paper is available online. For more information, use the link.
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