ALEXANDRIA, Va.—Cybersecurity is an NCUA concern, and the agency stressed both issues and steps to take in a recent letter to credit unions, America’s Credit Unions reported.
The letter was sent in advance of today’s planned cybersecurity briefing during the October board meeting.
NCUA’s letter, directed to credit union boards of directors and CEOs, emphasizes the risk of cybersecurity threats and areas of focus for credit unions to manage cyber risk.
NCUA Chairman Todd Harper shared that since the NCUA cyber incident notification rule took effect last September, through Aug. 31, there were 1,072 cyber incidents involving credit unions, ACU noted.
The letter highlights four key areas of focus for credit unions to better address cybersecurity:
- Provide for recurring training
- Approve information security program
- Oversee operational management
- Ensure effective incident response planning and resilience