The cost to recover from a security breach can be staggering. In fact, a 2013 report from Symantec shows that the average organizational cost of a security breach in the United States is more than $5.4 million.
For financial institutions, including credit unions, the cost can be even higher. By February 2014, credit unions had already incurred costs of $30.6 million as a result of the Target stores data breach.
Clearly, given these grave financial consequences, a strategy for network security is key. Yes, it's important to keep threats from getting in, but the number one priority for a financial institution is keeping sensitive member information from going out. An intrusion prevention device or system helps provide this added protection.
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