August 24, 2014

3 weeks to register for payments security exercise

Aug. 15, 2014 – Credit unions have three more weeks – until Sept. 5 – to register to participate in the first of two exercises led by the Financial Services Information Sharing and Analysis Center to test payments processes under a feigned cyber attack.

The exercise, open only to those working directly for financial institutions (no third parties), will run Sept. 9-10 and Sept. 16-17. During these periods, FS-ISAC, working with the Payments Risk Council, will conduct simulated attacks on payment processes to help institutions assess readiness in the event of a real attack. Participants can sign up for either period.

NAFCU members that are interested or have questions about the exercise can send an email to Regulatory Affairs Counsel Angela Meyster at The registration deadline for the Sept 9-10 exercise is Sept. 5; for the Sept 16-17 exercise, the registration deadline is Sept. 12.

The FS-ISAC says participants in this Cyber Attack Against Payment Processes Exercise will be able to evaluate current risk mitigation procedures and identify critical gaps; test their response teams' ability to respond to major incidents; educate staff about how to respond to complex threats; and, among other things, demonstrate regulatory compliance.

FS-ISAC's partners include the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security. NAFCU is an FSSCC founding member.