Everybody's talking about cybercrime, and the hacks and thefts at giant organizations. In all likelihood, you know someone who's been affected by hacks at a major retailer, for instance. As a credit union, small or large, you may think you're too small a fish to be a target. But that is far from the case: According to the 2016 Internet Security Threat Report, Symantec's annual analysis of cybercrime, attacks against small businesses are rising rapidly, with 43% of attacks targeted at small organizations [defined as fewer than 250 employees] in 2015.
Your credit union touches a lot of incredibly valuable information, so you are a natural target of scammers great and small.
Are you thinking about cyber fraud as much as you should, or are you counting on your account administrators to protect you? The truth is, administrators can only do so much. Everyone who has access to your members' finances must take precautions. And that includes you. It's enough to make a credit union executive paranoid — and maybe that's a good thing.
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James J. Green
Jamie Green is editor of Jamie Green Reports, an advisor-focused writing, editing and shepherding service. He can be reached at [email protected]. Jamie is former Group Editorial Director of the Investment Advisory Group at ALM Media, where he had overall editorial responsibility for ThinkAdvisor.com and Investment Advisor and Research on Wealth magazines, monthly print magazines that have served advisors of all kinds for more than 30 years. In more than 30 years of experience in print and electronic journalism, Jamie has been covering the investment advisory industry since 1999. In the 1990s he worked for nine years at The New York Times, where he was editor of TimesFax, an electronic version of the newspaper of record now known as TimesDigest. In the 1980s he was editor of Tele/Scope, a pioneering electronic news service based in New York, and was editor of Telecommunications Research, a monthly journal. He holds a bachelor's degree in philosophy from St. Hyacinth College in Granby, Massachusetts, and studied theology on the graduate level at St. Anthony-on-the-Hudson, Rensselaer, New York.
