Tuesday, January 26, 2016

Highlights: Filene’s Cybersecurity Colloquium

Yesterday, credit unions from all over the United States braved the aftermath of Winter Storm Jonas to attend Filene’s Cybersecurity Colloquium in Newark, New Jersey.

Attendees heard from key cybersecurity leaders, who shared vital insights on how to best protect credit unions from the latest digital threats. Among the information shared, these quotes stood out to us:

"The need for information sharing is paramount.” – John Carlson, Chief of Staff, FS-ISAC
Through anonymously sharing information about security threats across the financial industry, credit unions can help each other stay informed on the most pressing cybersecurity risks and threats.

“There is no one way to stop an attack; it involves many things, people, processes and tools.” – Randy Gainer, Partner, BakerHostetler
There are many types of cyberattacks, and threats evolve and change everyday. Credit unions must recognize this, and continue to evaluate, test and evolve their safeguards.

“Our #1 best practice for protecting against a breach is encryption, encryption, encryption.” – Theran Colwell, Director of Risk Management, CUNA Mutual Group 
Credit unions can protect their network data, mobile data, and backup tapes and disks most effectively through encryption.

And, finally, a main takeaway: No credit union is immune to cybersecurity threats. Credit unions of all sizes in all corners of the United States are subject to cyberattacks.

For more information on how your credit union can best protect itself against cyber threats, keep an eye out for Filene’s cybersecurity research report – based on yesterday’s event – to be released later this year.

In the meantime, you can check our Twitter feed on Wednesdays, when we focus on technology that's relevant to our industry and members' lives.