October is Cybersecurity Awareness Month, a perfect time for your credit union to reflect on the importance of digital safety and take proactive steps to protect members' sensitive information.
While large-scale security measures are essential, small daily practices can also play a critical role in defending against cyber threats. Here are 10 simple actions your credit union can implement to make a big difference in maintaining a secure digital environment.
10 Small Cybersecurity Things You Can Do Today
1. Regularly Update Software and Systems
Outdated software is a prime target for cybercriminals. Ensure that all systems, from core banking software to employee devices, are up to date with the latest security patches. Setting up automatic updates can make this process seamless.
2. Use Strong, Unique Passwords
Encourage your team and members to create strong, unique passwords for every platform they access. A mix of letters, numbers, and symbols—along with regular password updates—can go a long way in preventing unauthorized access.
3. Enable Multi-Factor Authentication (MFA)
Multi-factor authentication adds an extra layer of security by requiring not just a password, but also an additional verification method, like a code sent to a smartphone. Implementing MFA for both employees and members can significantly reduce the risk of account breaches.
4. Regularly Back Up Data
In the event of a cyberattack, having reliable data backups can be a lifesaver. Set up automated backups for essential systems and test them periodically to ensure quick recovery if needed.
5. Provide Cybersecurity Training for Employees
Your employees are your first line of defense. Regular cybersecurity training can help staff recognize phishing attempts, suspicious activities, and other potential threats, ensuring they're equipped to handle risks.
6. Conduct Routine Security Audits
Regular security audits are essential for identifying vulnerabilities in your credit union's systems. Partner with cybersecurity experts to perform comprehensive assessments and make improvements where necessary.
7. Monitor and Limit Access
Ensure that only authorized personnel have access to sensitive systems and data. Implementing role-based access controls helps limit exposure to potentially harmful information.
8. Promote Safe Browsing Habits
Encourage employees and members to be cautious when browsing the web, particularly regarding suspicious links or email attachments. Sharing tips on identifying phishing emails and malicious websites can help prevent accidental downloads of malware.
9. Use Encryption for Data Transmission
Ensure that all sensitive data transmitted between your credit union and its members is encrypted. Encryption adds an extra layer of protection, making it difficult for cybercriminals to access private information even if they intercept it.
10. Communicate with Members About Cybersecurity
Proactively share cybersecurity tips and alerts with your members. Whether through email newsletters, secure messages, or push notifications, keeping members informed about potential threats can help them safeguard their accounts.
Elevate Your Cybersecurity with FLEX Technology
During Cybersecurity Awareness Month, credit unions should focus on both big and small security measures. By following the ten easy steps mentioned earlier, your credit union can greatly improve protection against cyber threats. Creating a cybersecurity-aware environment not only secures important data but also builds trust with your members over time.
At FLEX, we understand the importance of affordable and adaptable cybersecurity solutions. That's why we've put together an eGuide to show how FLEX can boost your credit union's cybersecurity efforts. Click the button below to download your free copy today!
