September 30, 2013

October is Cybersecurity Awareness Month

Oct. 1, 2013 – In recognition of Cybersecurity Awareness Month, NAFCU is urging its members to be vigilant about data security and potential cyber threats.

"Many credit unions have taken major steps in recent years to combat cybersecurity threats," said NAFCU President and CEO Dan Berger. "Given the gravity of these threats, and the potential for a catastrophe, it is vitally important that those who have been vigilant continue to do so, and that those who have not take this threat seriously."

Last week, NAFCU Executive Vice President and COO Anthony Demangone attended a Financial Services Sector Coordinating Council briefing on cybersecurity, along with leaders from all sectors of the financial services industry, including credit unions, banks, insurance firms, armored car services, and the payments network. NAFCU is a founding member of the council. The meeting was aimed at getting all financial sector representatives more engaged in the work of the FSSCC.

"NAFCU is addressing this threat in its discussions with lawmakers, regulators, other industry representatives and cybersecurity experts, and it's pushing for a comprehensive approach to cybersecurity," Demangone said. "We are also continuing to work with FSSCC to ensure credit unions are kept up to date on the latest information available for addressing this threat."

NCUA Chairman Debbie Matz also issued a reminder to credit unions about online threats, saying: "Credit unions must proactively put in place effective controls to protect against these cyber threats, and Cybersecurity Awareness Month is an ideal time for credit unions to review their information systems policies, practices and procedures."

The Department of Homeland Security designated October as National Cybersecurity Awareness month 10 years ago and cooperates with the National Cyber Security Alliance and the Multi-State Information Sharing and Analysis Center to promote events and initiatives raising awareness about cyber threats.