Top cybersecurity challenges facing credit unions in 2024 and how to prevent them
How credit unions can protect themselves from the top digital security challenges in the year ahead and beyond
Credit unions are a vital part of the financial system, providing financial services to millions of people around the world. However, they are also a prime target for cybercriminals, who are drawn to their rich trove of sensitive data, such as names, addresses, Social Security numbers and account information. In 2023, the National Credit Union Administration reported a 25% increase in cybersecurity incidents at credit unions. This trend is likely to continue in 2024 and beyond, as cybercriminals develop new and more sophisticated methods of attack.
In 2024, credit unions are expected to face several cybersecurity challenges, including:
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