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How to Avoid Business Discontinuity

This opinion piece looks at ways credit unions can ensure business continuity with secured data backup resources.

By Laurie Elliott | Updated on April 14, 2014
Business continuity grows increasingly vital as the threat of cyberattacks – which numbered 1.7 billion worldwide in 2013 – and other IT dangers lurk, especially for financial institutions. And credit unions aren’t immune.

Eighty-three percent of organizations surveyed by Continuity Central say they expect to see at least small changes in their business continuity plans in 2014, with a third anticipating major changes. Only 17% expect no change.

Business continuity is critical for credit unions because FIs and retailers are the two biggest cybercriminal targets. The recent breach at Target sparked several credit unions to reissue debit and credit cards to their members because of the major retailer’s cyber headaches. And if it’s not hackers, it’s employees companies need to worry about. Malicious attacks by insiders cause roughly 12% of data breaches, according to a 2012 Forrester study.  

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