NCUA Offering a New Video, a Consumer Twitter Chat and Online Resources
ALEXANDRIA, Va. (Oct. 1, 2015) – Cybercrime and terrorism remain serious concerns, and credit unions and their members can find valuable information from the National Credit Union Administration to help them protect themselves from cyberattacks.
October 2015 is the twelfth annual National Cyber Security Awareness Month, and NCUA Board Chairman Debbie Matz urged credit unions and their members to be watchful online.
“Criminals, hackers and terrorists work around-the-clock to pilfer sensitive data, steal money and disrupt networks,” Matz said. “Internet commerce and communications dominate the lives of most people every day and this demands constant vigilance on the part of consumers, financial institutions and government agencies. NCUA works hard every day of the year to provide detailed information to help the credit unions we regulate and the consumers we protect to prevent, detect and respond to these threats.”
As part of National Cyber Security Awareness Month, NCUA is scheduled to host a consumers’ Twitter chat with the Federal Trade Commission on Oct. 22. NCUA is also planning to release a new video for credit unions that discusses online security and the Federal Financial Institutions Examinations Council’s new cybersecurity assessment tool.
For credit unions, NCUA offers information, including regulations and guidance, on the Cyber Security Resources page on the agency’s website. For consumers, NCUA’s MyCreditUnion.gov and its financial literacy microsite, Pocket Cents, offer helpful tips to protect their finances.
Throughout the month, NCUA will regularly post tips and best practices on Facebook and Twitter that credit unions and members can use to make electronic communications more secure.
Cost estimates of cybercrime vary, and they are always large. Earlier this year, the CEO of Lloyd’s, the British-based international insurance company, estimated cyberattacks cost businesses $400 billion annually. The FBI’s Internet Crime Complaint Center has received more than three million complaints since its inception in 2000 with an estimated dollar loss of more than $3 billion. The center receives an average of 22,000 complaints per month.
National Cyber Security Awareness Month is an initiative sponsored by Department of Homeland Security in cooperation with the National Cyber Security Alliance and the Multi-State Information Sharing and Analysis Center. The month raises awareness and educates Americans about cybersecurity as well as increasing the resiliency of the nation’s cyberinfrastructure. For more information, visit www.staysafeonline.org.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.