1. Keystroke Encryption

The problem of keylogging is staggering.

• Keylogging malware is successful in stealing keystrokes 98% of the time;
• More than 93% of passwords worldwide were stolen due to keyloggers;
• Sixty-three percent of all reported data breaches in the last 12 months – including Target and Home Depot – originated with a keylogger.

With more than 12,000 keyloggers in distribution, antivirus and anti-spyware solutions aren't enough to protect online activity from identity thieves. In fact, keylogging spyware installs without user knowledge and avoids being detected by all antivirus programs.

Think it's illegal or hard for just anyone to get his or her hands on a keylogger program? Think again. You can shop for one on Amazon.com, where you can buy a USB flash drive for less than $60, or buy a downloadable version. You can even pay an extra $10 for assistance downloading the keylogger on another computer.

Now, everyone who has access to any computer in your network at any time for 60 seconds or less can install a keylogger on a machine onsite. But, given how many high profile breaches took place last year, an onsite presence is not necessary.

Keylogging spyware can be embedded in emails, videos and music files, software downloads and even legitimate websites. For example, in the 2013 breach of NBC.com, by simply visiting the NBC.com, website visitors were infected by a keylogger.

Anti-keylogging keyboard encryption technology encrypts data instantly at the point of origin, when someone types on his or her keyboard. A proactive protection technology, keystroke encryption technology protects everything from online transactions and network remote access to social media, personal and business information.

2. Cybercrime Insurance and Resolution Practices

Nowadays, it's not a matter of if your credit union will be breached, but when. You can combat this hard truth by investing in insurance to cover data theft, and by drafting, in detail, the fully managed resolution practice your organization will enact if a breach should occur.

Cybercrime is not covered by general business liability insurance, but it is relatively inexpensive and can save your credit union thousands of dollars in future fees and expenses. Think of it this way: Adding the expense of a new insurance premium is never going to shut down your business, but suffering a breach without insurance might do just that. Most cybercrime insurance covers notification in the event of a loss of protected information, crisis management costs to restore customer confidence, regulatory fines and penalties, and credit monitoring expenses for victims of the breach.

3. Total Identity Monitoring

Credit monitoring is a first good step, but your organization's resolution practices need to go one step further and offer total identity monitoring.

According to the Federal Trade Commission, 70% of identity theft is non-credit related. As an industry insider, you're likely well aware of this fact, but there is a severe lack of customer understanding of this issue. Ask a layperson why someone would want to steal his or her identity and he or she will guess credit card fraud. But, the FTC statistics show that only 26% of stolen identities are used for credit fraud. Other potential uses of a stolen identity include:

• Utilities, 18%
• Organization fraud, 16%
• Investment fraud, 12% 
• Employment fraud, 10% 
• Other, 10% 
• Government, 8% 

Fifty-seven percent of banking customers surveyed by our company responded that they would be at least somewhat likely to switch to another bank if free identity theft protection services were offered. Capitalize on this statistic and offer total identity monitoring, while also educating your members about the other reasons their identities may by stolen. This added value service can reduce your organization's commercial portfolio risk while also providing market differentiation.

Bryan Ansley is CEO of Secure Identity Systems, which provides financial service companies with identity theft protection solutions. He can be reached at 877-304-3349 or [email protected].