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Reduce the Risk of a Cyber-Attack

by TraceSecurity

In 2015, over 169 million personal records were exposed, stemming from 781 publicized data breaches across the financial, business, education, government, and healthcare sectors.

The frequency and severity of cyber-attacks continue to grow as cybercriminals employ more complex techniques to gain access to networks and sensitive data. These attacks can be extremely damaging to credit unions, particularly if confidential business and member data is compromised. As data breaches become more prevalent, they cause increased financial and reputational impact.

To protect critical infrastructure, credit unions must first understand the current threat environment. Cybercriminals will work 24/7, using various attack methods, to gain access to crucial systems and sensitive information. The following includes just a few types of cyber-attacks credit unions may face.

• Social Engineering – Manipulating people into performing actions or divulging confidential information, includes phishing and vishing attacks
• Password Attack – Trying to gain access to systems by cracking user passwords
• Ransomware – Malicious software designed to block access to a computer system until a sum of money is paid
• Rootkits – Software designed to hide the fact that a system has been compromised
• Denial-of-Service Attack – Attackers send high volumes of data or traffic through the network until it becomes overloaded and can no longer function
• Web Application Attack – Involves SQL injections and cross-site scripting

Despite efforts by credit unions to implement effective data security controls, attackers continue to adapt and find new ways to penetrate networks and systems. To protect business assets and sensitive information, credit unions must employ strategies that help ensure they stay one step ahead of cybercriminals. Implementing the following layers of protection as part of a comprehensive network defense strategy will help prevent data breaches in the long run.

• Patching systems regularly
• Creating strong passwords and changing them frequently
• Performing internal and external penetration testing
• Regularly conducting vulnerability scans
• Performing cybersecurity assessments
• Conducting social engineering testing
• Training employees
• Encrypting all data and devices

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For more information, view TraceSecurity's recent webinar:

Common Cyber-Attacks and How to Prevent Them

Join us to learn:

• Why cyber breaches are on the rise
• Types of cyber-attacks impacting credit unions today
• How to prevent common cyber-attacks