The True Cost of Cyber Insecurity:
Phishing Attacks and Data Breaches

Wednesday, June 17, 2009 ~ 2:00 p.m. - 3:30 p.m. EDT
Available until December 17, 2009

Phishing attacks represent a staggering amount of online fraud, and recent reports indicate that online fraud will cost credit unions millions of dollars in the coming years. Even more shocking than this cost is the fact that phishing is a steadily growing problem with no end in sight.

Also, over the past few years, the number of data breaches reported has grown substantially. In fact, in 2008 alone, there was an increase in the frequency of this crime of nearly 50%. Breached companies can suffer devastating reputational effects, can lose valuable business and become inundated with expensive lawsuits. Studies have shown the victims of data breaches look to their financial institution to be able to provide a turnkey approach to protecting their good name.

In this session, phishing experts from Cyveillance will present real world cost analysis from over six years of data collection on detection and site takedown efforts for credit unions of all sizes. They will explain the costs of phishing attacks in a manner that can be easily adjusted to any credit union’s specific business model or support process. Also in this session, data breach response experts from the Affinion Security Center will detail the best practices for data breach pre-planning and preparation, and provide an in-depth look at the resources businesses need to manage a breach, should one occur.

This session will cover:

- Response rates over time of an attack
- Phishing target volumes and percentages of respondents (victims)
- Hard and soft costs associated with each attack
- Specific actions you can take to minimize the losses
- How to build your own cost model

- How quickly an organization and all its associates can be impacted by a breach

- How to mitigate damages by implementing a preemptive data breach response plan

- Tips and examples of the key elements that constitute an effective data breach plan

- Recommendations on how to implement a data breach response plan

Broadcast live from NAFCU's Headquarters in Arlington, VA.

Featured Speakers:

Dr. Terry Gudaitis, PhD, Director, Cyber Intelligence Division

Cyveillance, Inc.

Tom Rusin, President & CEO

Affinion Group, North American Division

Moderator:
Amanda Bigley, Associate Director, Events & Education

Who Should Participate:

NCCOs will receive 1.5 continuing education units for participation.

Archived webcasts are available for up to 6 months after the live broadcast and are included in the registration fee.

Note: A $50 fee applies to all cancellations. Registrations must be cancelled by
June 1, 2009.