Top security concerns for credit unions

by CDW Financial Services|Oct 24, 2016

What is keeping Credit Union IT staffers awake at night? There certain is no shortage of challenges facing credit unions but security and cybersecurity continue to be top issues. This week’s FIN News Alert looks at the Credit Union Magazine article “CU Security: Combating the Top Four Threats” and share the top security concerns to be monitoring. Here are some of the top concerns:

Threat #1: ATM Vestibule skimming

  • It is no surprise that skimming poses a big threat to financial institutions.
  • Consider using video surveillancewith a loitering detection analytic that can alert security personnel to handle the situation.
  • Also be sure to utilized an anti-skimming kit are a must have.

Threat #2: Failure to upgrade cybersecurity defenses

  • Cybersecurity must remain a top priority.
  • Many credit unions use different layers of security from various providers.
  • While cybersecurity is an ongoing concern, experts stress that credit unions need to have multiple layers of defense along with ongoing audits to be effective.

Threat #3: Disconnected security measures

  • Security is incredibly important but requires a high level of coordination and persistence to be effective.
  • Fragmented or cheap fixes can cost credit unions in the long run.
  • Financial organizations must work to create a comprehensive, intelligent surveillance solution that can provide a strong defense.

Threat #4: Improper installation of security measures

  • Even the bestsecurity measures aren’t much good if they’re installed poorly.
  • Ensure security measures also build in adequate backups.

The threat landscape is constantly changing as hackers and criminals find new means of evading security measures. Be sure to constantly monitor and update security measures.

Want to read the more in-depth insights on cybersecurity for banks and credit unions? This whitepaper share advice on protecting your bank or credit union from advancing threats.