Bill Nelson, president/CEO of the Financial Services Information Sharing and Analysis Center, offered a taste of his keynote presentation, scheduled for CU Times' virtual cybersecurity conference Sept. 7.

In 1999, a group of financial institutions dedicated to communicating the latest cyber threats, vulnerabilities and incidents formed FS-ISAC, a nonprofit association dedicated to protecting financial services firms from physical and cyberattacks through information sharing and analysis of those threats.

What is the goal of the Financial Services Information Sharing and Analysis Center (FS-ISAC)?  

Nelson: FS-ISAC's primary goal is to share cyber and physical threat information with member financial institutions in order to help them prevent, detect and respond to various attacks and vulnerabilities.

How many members does FS-ISAC have?

Nelson: FS-ISAC has over 7,000 member institutions. FS-ISAC has grown rapidly in the last two years, adding over 3,200 members since January 2014. This is largely due to the efforts of the FFIEC, including the NCUA, which has recommended membership to the credit unions and banks that they regulate.

What is the structure?

Nelson: FS-ISAC is a nonprofit 501 (c) (6) organization, and its members are financial institutions including credit unions, banks, broker dealers, insurance companies, payment processors, and technology companies that support the financial services industry.

How can credit unions participate?

Nelson: Credit unions can join FS-ISAC directly by logging in to fsisac.com and setting up their memberships. Once a credit union joins, they can start receiving alerts and sign up to share information by joining various groups such as the Community Institution Council or Cyber Intelligence email distribution lists.

The Credit Union Times virtual conference agenda covers topics such as the importance of collaborative information sharing, legislative and regulatory expectations; trends in cybersecurity and incident response; and how the different threats types can exploit organizations and members.

Among the expert speakers and panelists are Nelson, NAFCU General Counsel Carrie Hunt and Communication FCU Compliance Officer Joey Griffith.

"Credit Union Times recognizes the importance of keeping up-to-date with the latest in cybersecurity," Sarah Snell Cooke, ALM Media market segment strategy leader for credit unions and commercial real estate, said. "We felt that it was our responsibility to deliver that useful information in an effective and efficient way so credit union professionals can do their jobs even better and be on with the rest of their day."

 

Can your cybersecurity strategy handle an attack? Do you have the latest tools and techniques to prevent fraud and data breaches? Get them and more at our FREE Second Annual Data Breach Defense Virtual Conference on September 7. Plus, you'll also learn the latest trends in cybersecurity including incident responses and be able to immediately download white papers, and so much more. Register for FREE Now!

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).