9 ways to protect your credit union from a data breach

by. Emily Maxie

Sally Beauty is the latest to fall victim to a data breach, and the PR nightmare has begun. This happened of course at the time I started writing this blog post. It looks as though retailers are getting slammed with data breaches, a factor, no doubt, due to the lack of regulations they have to follow.

It’s no secret who will incur the financial burden of this. This was a theme echoed at the last Governmental Affairs Conference. So make sure to document your losses on all breaches and report them to your representatives in congress.

Given that, let me address a regulation your credit union needs to follow to further reduce the chances of a data breach. Gramm-Leach-Bliley Act (GLBA) requires financial institutions to protect their customers’ information against security threats. Log management can be helpful in identifying possible security violations and resolving them effectively. Furthermore, per NCUA Regulation 748 Appendix A. III. C. 1.d., change control procedures should be in place designed to ensure that system modifications are consistent with the credit union’s information security program.

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