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News Now

Washington
CU Magazine Article Warns Of Combined Security Threats
WASHINGTON (5/3/13)--Criminals are using a mixture of malware, phishing, and sophisticated social engineering strategies to steal data from their victims, and these combined attacks are creating new concerns for credit unions, the Credit Union National Association's BITS Liaison Task Force wrote in the just-released May issue of  Credit Union Magazine.

Safeguarding information, accounts, systems, and processes is increasingly challenging to manage in the face of these "blended threats." The attacks "are effective because many audit processes lag behind in detecting gaps that stretch across various departments," the task force piece said.

To better address these threats, CUNA's BITS Liaison Task Force recommended that credit unions:

  • Improve their data visibility across multiple sources to enable greater identity capabilities;
  • Perform a risk assessment to collectively identify current capabilities and security gaps; and
  • Design solid security measures to mitigate exposure risks.
"Organizations might have many approaches in how to bring these various disciplines together to work as a cohesive unit. Some might consolidate risk groups under a single management structure and others might introduce independent audit or risk management groups to look across different areas," the CUNA task force noted.

For the full Credit Union Magazine article, and more engaging stories, use the resource link.
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