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CUNA/NASCUS Cybersecurity Symposium Examines Critical Issues
Wednesday, September 2, 2015 6:40 AM

More than 120 regulators, policymakers, and information technology (IT) professionals took part in a recent two-day cybersecurity symposium hosted by Credit Union National Association and the National Association of State Credit Union Supervisors in Denver.

Attendees learned about a number of critical cybersecurity issues, including detecting and resolving hacking attempts and future changes to National Credit Union Administration examination procedures, which next year will incorporate cybersecurity tests.

Brandon Henry of financial services IT consultant firm TrustCC presented a hacking demonstration combined with a discussion on how to guard against “password guessing” and other common types of password-hacking attempts.

Later, Tim Segerson, NCUA deputy director for examination and insurance, spoke about how the agency plans to build the new Federal Financial Institutions Examination Council’s (FFIEC) cyber assessment tool into its exam procedures.

Formal tests of a credit union’s cybersecurity protocols won’t be required until June 2016.

Segerson also said that NCUA expects a 9- to 12-month industry implementation period of the FFIEC tool, and that national outreach events by the agency would continue through March 2016.