Compliance Blog highlights cyber threats for CUs
NAFCU Senior Regulatory Affairs Counsel Tessema Tefferi
Oct. 3, 2013 – NAFCU Senior Regulatory Affairs Counsel Tessema Tefferi focused on cybersecurity threats and their effects on credit unions in a post Wednesday on the NAFCU Compliance Blog.
Tefferi noted that even during the current federal government shutdown, cybersecurity operations are continuing because they are deemed an “essential” function. He urged credit unions to adopt that view as well. “Whether the threat emanates from any or all corners of the world, a credit union’s own operating system (for lack of adequate safety guards) or a garage or basement in any of our towns, it is no longer a threat that can be taken lightly.”
Tefferi reminded that October is Cybersecurity Awareness Month, and he listed several resources that can help credit unions assess their own readiness. Among these is NCUA’s risk alert on cybersecurity, which includes advice on transaction monitoring and verification procedure, and how to implement multifactor authentication, filtered internet browsing, and other controls.
Tefferi also pointed to the upcoming NAFCU Technology and Security Conference, slated for Feb. 11-13 in Las Vegas. The conference will focus on how credit unions can protect themselves, what they need to know about core processors and the latest payments trends, among other technological hot topics.
NAFCU Compliance Blog
NCUA Risk Alert
NAFCU Technology and Security Conference