A report by Online Trust Alliance (OTA), a non-profit organization, mentions that the implementation of basic information security controls would have been of a real help in preventing some of the data breaches occurred. Of the attacks evaluated, 60 percent were either the result of insider activity or social engineering attempts.
According to the source, credit unions are and will continue to be prime targets for cyber criminals because they maintain databases that contain members’ personally identifiable information. Therefore, OTA recommends performing annual risk assessments to identify credit union assets that contain (or allow access to) sensitive member information and create a framework from which the institution can develop data minimization and least privilege access to these systems. The reports also advises organizations to prepare an established incident response plan.
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