The NCUA has issued a regulatory alert instructing federally insured credit unions to ensure they have security measures in place in the wake of several recent online breaches.

The alert advises FICUs to have "robust enterprise risk management practices in place," including assessment, mitigation and controls, measuring and monitoring.

"Lack of proper monitoring and control systems allows attackers to gain entry into a target environment through phishing, spear-phishing, drive-by malware injection and other malicious techniques," the agency said. "Successful attacks often compromise sensitive member information which may lead to fraud."

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.