MADISON, Wis. — CUNA Mutual Group has issued a security alert which builds on similar alerts from Visa USA that warn of hacker attacks on the card security systems of U.S. financial institutions.

Generally hacker attacks aimed at stealing card holder information have aimed mostly at retailers, but the alert indicates that this may be changing. The insurer specifically recommended credit unions have a system in place to detect network intrusions, have a host-based intrusion detection system and to guard against having "poorly configured" firewall procedures.

Visa also recommended financial institutions contract with independent third parties to conduct security assessments and to pay close attention to security procedures at key suppliers, particularly those charged with handling cardholder information.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.