ALEXANDRIA, Va. (10/2/14)--October marks the beginning of the 11th annual Cybersecurity Awareness Month, and the National Credit Union Administration is using the occasion to urge credit unions to be proactive in protecting themselves and their members from data theft.
The NCUA reminds credit unions that the agency posts tips on protecting information on its @MyCUgov Twitter account, Facebook page and will do so in the upcoming October issue of The NCUA Report.
"In the last six months, we learned about two significant vulnerabilities, Heartbleed and Shellshock, which presented serious threats to security. A credit union could be the target of an attack, or someone could try to use a credit union as a conduit to attack other businesses," said NCUA Chair Debbie Matz in a release Wednesday. "With so much of our lives tethered to the flow of personal information across the Internet, protecting that information is a constant responsibility."
NCUA's website has a dedicated page for cybersecurity resources on preventing, detecting and responding to cybersecurity threats, as well as regulations and guidance.
The Federal Bureau of Investigation's Internet Crime Complaint Center earlier this year logged its 3 millionth consumer complaint, and the total estimated dollar loss from those complaints is $3 billion. The Center for Strategic and International Studies in June estimated the annual global cost of cybercrime to be between $375 billion and $575 billion.
The Credit Union National Association recently wrote to President Barack Obama, asking him to establish a Cybersecurity Council that would develop an approach to cybersecurity issues. CUNA also surveyed credit unions on how the Target data breach affected them and is currently requesting the same information from credit unions on effects of the Home Depot data breach. (See related story: CUNA investigates CU costs of Home Depot breach.)