Technology Security Is Focus Of New Tech Council White Paper

Posted: 2011-07-28 00:00:00

Madison, Wis. -- Security issues continue to evolve with the introduction of new technology and the development of new tactics by fraudsters. That makes creating barriers to repel intruders an ongoing challenge, according to according to a new CUNA Technology Council White Paper.

Technology Security: Mitigating Current Threats and Emerging Challenges is based on information gathered from six information technology (IT) leaders at credit unions as well as five experts from security and technology firms.

The white paper discusses measures that credit unions can take to strengthen security, including:

• Restricting Internet access to employees based on a case-by-case review;
• Providing ongoing training for employees on security policies, risky behavior and social engineering;
• Taking an enterprise-wide approach to security with measures such as naming a designated security officer;
• Scrutinizing vendors, which is especially important for new technologies such as cloud computing and mobile banking;
• Developing policies and procedures to address the use of social media, which poses a potential risk to the credit union’s reputation;
• Strengthening multi-factor authentication to repel intruders and comply with Federal Financial Institutions Examination Council (FFIEC) supplemental guidance on authentication issued in June 2011,

Security threats are an everyday part of the electronic exchange of ideas, data and funds in today’s marketplace. While these concerns cannot be avoided entirely, the white paper offers measures that credit unions can take to mitigate risk as they continually take aim at the moving target of technology security. 

CUNA Council members are entitled to complimentary copies of these and more than 200 white papers; non-members may purchase the white papers for a price of $50 per copy. 

The paper is available online in the white paper section of www.cunacouncils.org – select the “Tech” tab.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

#  #  #

CUNA Technology Council

Established in 1995, the CUNA Technology Council is a member-led organization made up of more than 500 credit union technology experts across the United States. The Council’s goal is to shape the advancement of credit union technology by leveraging collective peer strength through the sharing of information and fostering of professional development. The CUNA Technology Council is one of the six organizations that make up the CUNA Councils, a network of more than 4,850 credit union professionals. For more information, visit www.cunatechnologycouncil.org or www.cunacouncils.org.