ALEXANDRIA, Va. (11/2/15)--Credit unions now have access to a video intended to help them use the Federal Financial Institutions Examination Council's (FFIEC) cybersecurity assessment tool to evaluate their ability to address cyber risks.
It is the latest resource added by the National Credit Union Administration to its "Cyber Security Resources" webpage and is meant to encourage credit unions to take steps to "identify, assess, and mitigate risks."
The video provides an overview of how the assessment tool works, in part, to help credit unions pinpoint strengths and weakness in their cybersecurity programs.
"The increasing volume and sophistication of cyber threats pose real risks to the credit union system," NCUA Chair Debbie Matz said at the video's unveiling. The NCUA is one of the member agency's of the FFIEC.
The FFIEC designed its assessment tool to be an enterprise-wide risk management instrument that credit unions and other financial institutions can use and revisit periodically as significant technological changes occur.