In commemoration of Cybersecurity Awareness Month (October), Chris Willey, Vice President of Enterprise Risk Management and Security Officer at American Eagle Financial Credit Union (AEFCU), authored an article on the importance of protecting online data that was published by Hearst Connecticut Media Group and widely distributed by some of Connecticut’s most prominent newspapers—including The New Haven Register, Connecticut Post, Stamford Advocate and Middletown Press, to name a few.
The article, Protecting online data has never been more vital, reminds people of the existence and dangers of cybersecurity threats and provides best practices for protecting themselves, their loved ones and their businesses.
“Cybercriminals are constantly devising new ways to deceive you so they can hack into your devices and accounts—and frequently those who fall prey are those who do not stay informed on cybersecurity threats and best practices,” writes Willey. “Financial institutions and your online banking accounts are tempting targets for hackers, which is why American Eagle Financial Credit Union is continuously educating our members and the public year-round on how to proactively combat cybercriminals.”
The entire article from Chris Willey of American Eagle Financial Credit Union is provided below.
Protecting online data has never been more vital
by Chris Willey, Vice President of Enterprise Risk Management and Security Officer at American Eagle Financial Credit Union
When October rolls around, many are reminded of trick or treating — the annual Halloween tradition where you roam through the community, disguised as someone or something else, demanding treats while threatening mischief. For security and risk professionals like me, it’s easy to see the parallels between Halloween and protecting our companies and customers from cyber threats. However, when someone knocks on our door, it’s far less cute and fun.
October is Cybersecurity Awareness Month, a time to remind people of cybersecurity threats and the best practices that can protect you, your loved ones and your business from them. According to the World Economic Forum, 95 percent of cybersecurity breaches are caused by human error, and the vast majority of cybercrimes involve attackers impersonating someone or something else in an attempt to trick their target into handing over their data, passwords or money. Sound familiar?
Cybercriminals are constantly devising new ways to deceive you so they can hack into your devices and accounts — and frequently those who fall prey are those who do not stay informed on cybersecurity threats and best practices. Financial institutions and your online banking accounts are tempting targets for hackers, which is why American Eagle Financial Credit Union is continuously educating our members and the public year-round on how to proactively combat cybercriminals.
One of the most effective tools you can use is multifactor authentication. MFA can include an extra numerical PIN, the answer to a security question, an additional code emailed or texted to you or facial or fingerprint recognition — among other tools that will verify your identity. Not every platform offers one, but you should be protecting any account where you store or access personal information (especially financial information) with MFA.
Your original authentication — the password — can also be your biggest vulnerability. Passwords are like the keys to your home, you should do everything you can to prevent people from gaining access to your password. A great first step is to create passwords that are long, unique and complex. No matter the account, all passwords should be created with those three words in mind.
Keep your password long (at least 14 characters), unique (never reuse your passwords, each account needs its own unique password) and complex (use a combination of upper and lowercase letters, numbers and characters). Just remember to change your password if there is unauthorized access on your account or if it’s part of a data breach.
Another easy way to keep your information secure is to ensure your software, operating systems and apps are updated. Don’t delay when a developer makes an update available — these updates fix general software problems and provide new security patches for areas cybercriminals may target. You should also never use hacked, pirated or unlicensed versions of software — even if it was provided by a friend. These often contain malware and cause more problems than they solve. You can be sure the bad guys are always looking for new and creative ways to break into your accounts — keeping your software updated will keep you one step ahead.
Lastly, always think before you click. Phishing attacks — when an attacker sends a fraudulent message designed to trick you into revealing personal information or clicking on a dangerous link or attachment — account for more than 80 percent of all reported security incidents, according to CSO Online.
Phishing scams are designed to look legitimate and they can be delivered through email, text message, social media messages and a host of other sources you may generally trust. Always remain vigilant and cautious, and do not open messages or click on links that seem suspicious or are from sources you do not recognize.
Cybersecurity Awareness Month and the ever-evolving cybercrimes we warn and protect against certainly make October spookier than it used to be, but if you remember to stay alert, follow best practices and remain “cybersmart,” you, your family and your business will be able to avoid the tricks and enjoy the many treats that come with online banking.
Chris Willey