The FBI has warned financial institutions of the possibility of a Sept. 11 cyber attack. The NWCUA’s compliance team continues to track internet chatter warning of cyber attacks and offers security information to member credit unions.
Cyber bullies have announced plans for more DDoS attacks on financial institutions. The NWCUA Compliance Department offers a security checklist and other resources for credit unions.
Whether it’s a hoax or a real threat, internet chatter warning of widespread cyber attacks on May 7 is a good opportunity for credit unions to review their online security systems.
A risk alert issued recently by the NCUA provides credit unions with guidance and steps to follow to mitigate distributed denial-of-service (DDoS) attacks.
Izz ad-Din al-Qassam Cyber Fighters, a hacktivist group that took credit for several recent DDoS attacks against banks, has said it will suspend the assaults for the time being. CUNA Mutual Group’s Ken Otsuka urges credit unions to use this opportunity to take six specific steps to defend against cyber attacks.
In 2012, terms like “fiscal cliff” and “regulatory burden” became part of the credit union lexicon. With the threat of cyber attacks looming, 2013 may see terms like “Project Blitzkrieg,” “DDos,” and “Shamoom” added to the credit union vernacular. Is your credit union prepared?