Cybersecurity in 2017: Four threats to watch
It may be a new year, but fraudsters haven’t shifted their focus from cyber. And, with cybersecurity an ongoing arms race, threats are evolving constantly.
Exposures can significantly impact your credit union, so it’s critical to be in tune with the latest cyber trends. Here are four threats to watch for 2017:
The threat of ransomware won’t slow down this year. In fact, it’s becoming more commercialized. In fact, fraudsters are now selling ransomware-as-a-service crimeware to other cybercriminals. Ransomware is particularly dangerous to credit unions. This is because malicious software can restrict access to files and threaten disruption or permanent destruction of sensitive information unless a ransom is paid.
- Distributed Denial of Service (DDoS) attacks.
DDoS attacks continue to increase in both frequency and sophistication. These attacks are generally targeted. , Fraudsters use them to overwhelm a system with data in an attempt to prevent users from accessing information or services. This can mean users – or in your case, members – who try to use your website won’t be able to do so. Critical infrastructure within the U.S. – financial institutions, in particular – have been targeted with DDoS attacks in the past and likely will be again in the future.