BY KENNETH SOLE
An aggressive and violent action against a person or place:
The action of defending from or resisting attack:
Cyber Security is unequivocally the leading concern of each and every type of business entity that presently exists, to include public and private corporations, financial institutions, and even state and federal agencies……..
None of these have been totally insulated from attacks, and many have suffered major security breaches, thus compromising customer non-public information as well as detailed financial and account data. Not a single day passes without some mention in the news related to another data breach. Even the current presidential race has recently fallen victim to unwarranted disclosure of sensitive information that is being utilized to gain a strategic advantage. Make no mistake about it. We are engaged in a Cyber War with very powerful enemies who wish to do us harm and pillage our private information and financial resources!
Cyber-attacks originate from a myriad of sources, and are identified by either the strategy itself, such as Phishing, Denial of Service (DOS or DDOS), Trojan, and Ransomware; or by the group or organization that generates the malady such as Carbanak, Anonymous, or Legion of Doom; and even by the name of the specific software such as Hummer, Keysnatch, Goznym, or Netspy. These attackers are in some cases sponsored by organizations and even governments that have vast resources to support such efforts. So what can the Credit Union do to protect itself from harm? In the pages that follow, I will offer some basic strategies for defending against such attacks, and detail the diligence that needs to be accomplished if the credit union expects to even have a modicum of success protecting itself against these formidable enemies.