Cybersecurity Awareness Month: How to Be Cybersecurity Smart

October 24, 2024

October is Cybersecurity Awareness Month which makes this the ideal time for sharing resources and cybersecurity best practice recommendations.  

Constant vigilance by all credit union team members is the best way to prevent cybersecurity attacks. Taking action to protect members’ data, frequently reminding members of actions they can take to protect their information, and being ready for a rapid response should an incident occur are all important aspects of keeping your credit union and your members safe.

Here are some reminders on how to be cybersecurity smart: 

Maintain Strong Security Practices 

• Conduct a thorough review of systems for any potential vulnerabilities. 
• Fortify your credit union’s administrative platform access passwords, employee passwords, and Vendor Systems passwords.
• Ensure system redundancies are secure and tested frequently. 
• Implement multi-factor authentication wherever possible and review user permissions for critical systems.  

Communication Plans 

• Ensure that your communication plans are up-to-date. If a breach occurs at your credit union, you must inform staff, members, and regulators quickly. 
• The GoWest Marketing & PR Resource Center has many resources to help your credit union proactively inform members and assist them should an incident occur. 

Vendor System Management  

• Review third-party vendor access and relationships, as many cyberattacks exploit vulnerabilities in vendor systems. Limit access where possible and ensure that vendors are also taking steps to safeguard their systems.  

 Backup and Restore Measures 

• Ensure that your systems are regularly backed up, secured, and tested. Reliable backups can significantly reduce downtime and protect your data in the event of an attack. 
• Stress-test your backup and recovery systems to confirm that they will function as expected in the event of a breach.  

Member Password Education 

• Remind members to practice good password protection and educate them to be vigilant against identity theft or other cyber threats. Members should know that they are the first line of defense against attacks. 
• As part of ongoing precautions, consider asking members to reset their passwords, especially if suspicious activity is detected.   

GoWest’s team is always ready to help when you have questions or concerns about cybersecurity issues. 

Posted in Across the Region, Compliance Resources.