The Federal Credit Union July - August 2016 - (Page 22)

CYBER READY In the current cybersecurity landscape, credit unions must accept vulnerability and take drastic measures to prevent potential losses. By Ken Stier I n his mind's eye, Alec Patrick envisions the IT infrastructure at GEICO Federal Credit Union as being like a house on a darkened street in a dangerous neighborhood. Imagine a desolate section of the city beyond the reach of public services. But in this cyber environment, which Patrick is charged with protecting as vice president of digital banking, the perimeter is tested daily, constantly - sometimes from as far away as China and Russia - and there are no cops to call. If all is in order, the house is very quiet and tightly sealed, offering no easy chinks to exploit, not even a keyhole to test. It's really more of a bunker than a house. But that's the new normal - and it is getting worse. Points of Vulnerability "Credit unions can, I think, expect to see that environment become more hostile over time," acknowledges Tim Segerson, deputy director of NCUA's Office of 22 THE FEDERAL CREDIT UNION JULY-AUGUST 2016

Table of Contents for the Digital Edition of The Federal Credit Union July - August 2016

The Federal Credit Union July - August 2016