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NCUA reminds CUs to remain vigilant, protect against cybersecurity threats
October is National Cybersecurity Awareness Month and the NCUA is reminding credit union industry stakeholders to remain vigilant and protect their systems. NAFCU closely follows cybersecurity issues to keep credit unions informed of threats and the latest resources available, and continues to be a leader in calling for national data security and privacy standards.
"Even during COVID-19, hackers and thieves do not rest," said NCUA Chairman Rodney Hood in a statement. "We expect credit unions to take appropriate measures to protect themselves and their members, and we have information and resources to help them do that.
"I hope everyone in our industry will continue working to keep our financial system and the millions of Americans who entrust their financial well-being to us safe from cyber threats," he added.
As cybersecurity remains a supervisory priority for the NCUA, the agency is focused 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; and
- ensuring NCUA’s systems and collected controlled unclassified information is secure.
NCUA has a webpage with cybersecurity resources available to credit unions, as well as information for consumers on MyCreditUnion.gov. The agency will also share tips on its Facebook and Twitter accounts about online security, recognizing and preventing identity theft, and what consumers can do if they fall victim to a cybercrime.
As NAFCU continues to fight for national data security and privacy standards, the association is working to ensure credit unions have access to the resources they need to stay on top of cybersecurity issues. The association's newest member-only network – the Cybersecurity & IT Network – aims to bring industry professionals together to connect on ways to better protect members' financial data and strengthen systems.
Additionally, NAFCU has a myriad resources available to ensure credit unions can effectively identify and address cybersecurity concerns, including online compliance resources.