PORTFOLIO 3 ways to protect customer data Compliance Community banks collect more customer data than ever before. A data security plan will ensure this valuable information is kept safe from hackers. By Mary Thorson Wright t's a robbery that no security camera, armed guard or time-locked vault can prevent. The perpetrators are hiding behind the computer screen, and their weapons are sophisticated and targeted to bank networks, e-banking systems and data stores. To thwart the criminals, community banks must be committed to robust practices and stay nimble to keep up to date with the industry and 26 Q ICBA Independent Banker Q February 2020 I with what customers demand. Here are three ways to protect customer information: Cybersecurity starts at the top. The quality of policies, oversight and support from a community bank's board of directors and management is essential to ensure the safety and security of customer data. The board and senior management are responsible for developing a bank's data protection program. This should address the data security plan and include a cost-benefit analysis, risk assessment and due diligence process for the plan, including for third-party providers. It should outline goals and expectations that management can use to 1 Quick stat Every 39 seconds, someone is the victim of a hack attempt Source: University of Maryland study