Tech Time: How to protect your credit union from cyberattacks

Size doesn’t matter when it comes to hackers; make sure your employees are familiar with these five cybersecurity threats to avoid becoming an easy target.

According to a new report by cloud and cybersecurity company Barracuda Networks, hackers are no longer targeting big businesses as they were a few years ago; instead, they’re shifting their focus and zoning in on small businesses. That means smaller credit unions are no longer flying under the radar.

On average, small businesses with fewer than 100 employees are more likely to experience social engineering attacks than an employee of a much larger company, the report says. How much more? Approximately 350%.

Generally, hackers earmark high-value accounts like those of CEOs, CFOs and chief technology officers. However, executive assistants and administrators are occasional targets because of their access to specific executive accounts.

Passwords and other forms of credentials are often the most sought-after pieces of information for hackers. For years, data breaches and other third-party breaches have occurred because of stolen credentials, and this trend is showing no signs of slowing down.

 

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