ALEXANDRIA, Va.– NCUA, CUNA, the Illinois league and other organizations are offering a number of resources, information and more as part of National Cybersecurity Awareness Month during October.
As CUToday.info reported here, CUNA is conducting a ransomware attack demonstration at Credit Union House in Washington today.
Meanwhile, with financial losses from cybercrime hitting $2.7-billion in 2018, NCUA said it is reminding credit union industry stakeholders to remain vigilant.
“In this day and age, cybersecurity is everyone’s business,” NCUA Chairman Rodney E. Hood said. “Hackers and thieves do not rest, and the NCUA is committed to leadership in detection and response to cyber threats. We expect credit unions to take appropriate measures to protect themselves and their members, and we provide numerous information resources to help them do that job. Earlier this year, I named a special advisor, who reports directly to me, to coordinate our efforts. I hope everyone in our industry will continue working to keep our financial system, and the millions of Americans who entrust their assets to us, safe.”
The agency said cybersecurity remains a supervisory priority and it is putting a special emphasis on:
- Advancing consistency, transparency and accountability within the cybersecurity examination program
- Encouraging due diligence for supply chain and third-party service provider management at credit unions
- Assisting institutions with resources to improve operational hygiene and resilience
- Ensuring NCUA’s systems and collected controlled unclassified information is secure.
Resources Available
NCUA said it maintains a cybersecurity resources webpage to provide credit unions with important information, including regulations and guidance, about protecting themselves and their members from cyber threats.
During Cybersecurity Awareness Month, NCUA said it will share tips on its Facebook page and on Twitter about online security, recognizing and preventing identity theft, and what consumers can do if they fall victim to a cybercrime. NCUA said it also provides consumers with information on staying safe in the Be Smart Online section of MyCreditUnion.gov.
Illinois League in Partnership
Separately, the Illinois CU League announced a partnership with Des Moines, Iowa-based BrightWise to make online cybersecurity training more accessible to Illinois credit unions.
“This move is part of the Illinois Credit Union League’s wider mission to support the credit union movement in Illinois by bringing together the latest technology and resources to help credit unions succeed,” the league said.
According to the ICUL, BrightWise delivers cybersecurity training through an online learning management system. The tool gives credit union employees access to short and engaging training videos (3-5 minutes in length), quizzes, documentation, webinars and gamified features. New training content is added monthly.
Credit union affiliates of the Illinois Credit Union League will be provided member pricing, which will enable credit unions of all sizes to participate in this innovative training platform, the league said.
“Part of our purpose is to educate and inform credit union employees on a number of fronts so they can help members thrive financially,” said Patrick Basler, EVP/COO of the Illinois Credit Union League. “We recognize that an effective cybersecurity program begins with an informed employee base. We expect our member credit unions will not only love the experience, but will appreciate the results, as well.”
“Front-line staff are under constant assault from cyber actors looking for an easy way into a credit union’s system,” said BrightWise COO Corey Skadburg. “It’s no longer enough to rely solely on the IT and infosec leaders to keep credit unions locked down. Employees at all levels need to be confident in their cyber awareness and cyber safe behaviors so they can stop an attack before it results in an intrusion.”