Cybersecurity & Denial of Service Attacks
In recent weeks, several large financial institutions have been subject to cyberattacks. These attacks are intended to disrupt financial institution websites and operations, and include distributed denial of service (DDoS) attacks. While these cyberattacks have targeted several very large financial institutions so far, credit unions are advised to monitor and be vigilant with their cybersecurity and risk management systems. Financial institutions should also follow federal financial regulations on internet and data security, as well as Federal Financial Institutions Examination Council (FFIEC) guidance on internet authentication methods, risk assessment, and customer verification.