First Moscow-based security firm Kaspersky Lab revealed a cybercriminal gang raided up to 100 financial institutions internationally for an estimated $1 billion. Then, the San Diego based Identity Theft Resource Center said that as of March 4, there had been 14 breaches, including one credit union, affecting almost 400,000 records in the financial sector this year.
Credit unions increasingly focused on bolstering network infrastructures and internal systems because of this heightened awareness of cybersecurity.
Lonny Brooks, manager of Security Services at Xamin, Inc., said, "The most glaring thing that stood out for me [in the Kaspersky report] is that they had patches available for well over a year yet those systems weren't patched."
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
