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Despite constant efforts by credit unions to warn and educate their members about online and mobile fraud, there are some members who are fooled by fear into a scam every day.

While the crooks know consumers are the weakest link in the cybersecurity chain, some of the technology-savvy criminals are getting in through the proverbial credit union back door. According to a study conducted by the Boston-based cybersecurity firm Black Kite, which evaluated critical security controls of 250 credit unions from all asset categories identified by the NCUA and 150 associated vendors, 86% of credit unions and 76% of vendors that serve them have breached employee credentials available on the Dark Web, and 66% of credit unions and 88% of vendors have not deployed the necessary cybersecurity configurations that can protect against attacks.

Peter Strozniak

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