Credit Union Security Vigilance Urged as New Cyber Attack Warnings are Issued

The FBI has warned credit unions and other financial institutions about the possibility of cyber attacks occurring “on or about” Sept. 11. No specific information was immediately available from the bureau about the nature of the cyber threats, although internet chatter posted by “hactivist” groups in July warned of continued distributed denial of service (DDoS) attacks. DDoS attacks in recent months have resulted in overloaded hits to financial institutions’ online systems, causing inconvenient shut downs of online and mobile banking services.

Tuesday, the California Department of Business Oversight alerted credit unions to the new FBI advisory and encouraged them to take reasonable steps to secure their cyber infrastructure.

The Northwest Credit Union Association (NWCUA) works with credit unions on an ongoing basis to help them prioritize security against cyber attacks. David Curtis, director of compliance services, published an Anthem article earlier this week detailing steps credit unions can take to mitigate effects from DDoS attacks. Other resources credit union security staff may want to review include:

The FBI maintains a 24/7 Cyber Watch Center to which financial institutions can report any suspicious activity. The hotline number is 855.292.3937. The bureau asks that reports include the date, time, location, type of activity, equipment used for the activity, number of people impacted, the name of the institution submitting the report, and a designated contact.

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

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