Make no mistake: big things come in small packages. That’s no secret to cyber thieves. They often take the path of least resistance and see credit unions and small banks as easy prey since they likely have fewer resources yet the same exposure to risk as larger financial institutions.

We often see threat actors testing their tactics on credit unions and small banks before attacking a larger financial institution. The credit unions not only suffer financial loss from the attacks but also the loss of time, productivity and reputation. 

Credit unions often tell me, “We’re too small to matter,” “We don’t store valuable data,” and “Our core provider provides security.” Because credit unions have less funds than big banks to secure their systems and often don’t monitor their networks 24/7, it’s easy for cyber thieves to get in and out of their networks sight unseen.

 

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