Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
GAO: Data breach policies challenge even government agencies
WASHINGTON (1/10/14)--Merchants and financial institutions aren't the only ones with data breach headaches.  A recent U.S. Government Accountability Office study reviewed eight federal agencies and found that while they "generally" developed data security breach policies and procedures, they inconsistently implemented them.

The National Credit Union Administration was not part of the study.  However, the Federal Reserve, Federal Deposit Insurance Corp., Securities and Exchange Commission and the U.S. Treasury Department were.

The GAO summary explains that the term "data breach" generally refers to the unauthorized or unintentional exposure, disclosure, or loss of sensitive information and that such a breach can leave individuals vulnerable to identity theft or other fraudulent activity.

"Although federal agencies have taken steps to protect (personally identifiable information), breaches continue to occur on a regular basis. In fiscal year 2012, agencies reported 22,156 data breaches--an increase of 111% from incidents reported in 2009," the GAO noted.

The report was posted to the GAO website Dec. 9, 2013, coincidentally about nine days before news of the massive data breach at Target first broke.

Use the resource link to read more of GAO's findings and recommendations.
Other Resources

GAO-14-34
RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
9 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
11 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
11 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
11 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
13 hours ago