According to one recent study, data breaches in the United States end up costing nearly twice as much as the global average as of 2022. Not only that but it has been estimated that human error accounts for roughly 95% of all cyberattacks worldwide.
Statistics like these illustrate why it is so important for credit union professionals to maintain peak performance at all times, particularly when it comes to cybersecurity. But while the situation may be intimidating, the approach to mitigating risk is anything but that. Provided that you take a few straightforward, practical steps, you’ll be able to fortify your defenses as much as possible. This is true even in the wake of the ever-evolving cyber threats we collectively face.
1. Stay up-to-date
Always keep all hardware and software up-to-date. This means that whenever a firmware update is available for hardware or a new version is available for the critical financial services software you’re using, download and install it immediately. In addition to bringing new features, these updates often patch bugs and address vulnerabilities that hackers are constantly working to exploit.
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