Credit unions, under siege from many cybercriminals, can combat cyberthreats with diligence and vigilance. That message came from a panel at CU Times' Oct. 6 virtual conference, "Data Breach Defense." Approximately 425 credit union executives tuned in for the event.

Director David Brown of credit union security consulting ERM Security, based in Charlotte, N.C., joined Mark Guntrip, group manager, Email Protection, at Sunnyvale, Calif.-based cybersecurity firm Proofpoint and CU Times Executive Editor Heather Anderson to share lessons learned from credit unions that have been hit by current hot-button cyberattacks.

There are financial implications, and reputational and other risks associated with a data breaches.  Phishing attacks aimed at employees caused an average sized company $3.77 million per year, Anderson said.

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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.).