reporting data breaches Data breach. (Source: Shutterstock)

Hackers, data breaches and compromised personal information are top concerns for credit unions today. In the first six months of 2019 alone, 3,800 data breaches were reported publicly, according to the 2019 MidYear QuickView Data Breach Report. Although a majority of those data breaches had a moderate to low severity score, now, more than ever, organizations need to prioritize data security for their clients, customers and members.

While many financial institutions are going back to the basics when it comes to data security and governance, the threat should drive most businesses to have the proper measures in place if a breach happens.

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