Shared Accounts With CU Times: Winning the Cybercrime & Fraud Battle

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It’s that old pesky issue that never seems to go away – and never fails to keep credit union leaders up at night – cybersecurity. In this episode of Shared Accounts With CU Times, we dive into the current state of credit union’ battle with cyber crime by picking the brain of Allen Eaves, an 18-year veteran of Jack Henry and the company’s current financial crimes solutions specialist.

In our interview, Eaves shares his thoughts on ransomware and other common threats, including the recent attack on Patelco Federal Credit Union, giving real-world examples of what works best for credit unions when it comes to cyberattack prevention and mitigation. He also touches on crisis communications best practices for credit unions faced with a publicized attack, and how both credit unions and cybercriminals are using AI to their advantage.

Eaves also leads us into a fascinating discussion about the people behind major cyberattacks (we were surprised to learn that cybercrime group leaders often use TikTok as a recruitment tool). And, with not even a financial crimes expert being safe from becoming a cybercriminal’s target, Eaves shares the measures he takes in his day-to-day life to avoid being victimized. It’s an entertaining and informative episode that all credit union professionals should hear, regardless of their involvement in IT/cybersecurity. Take a listen!