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NCUA Report: Ransomware Is a Serious and Growing Threat
Friday, October 28, 2016 6:45 AM

Smaller financial institutions, like credit unions, face a dangerous and growing threat to the safety and security of their data and sensitive information in the form of ransomware. In the latest issue of The NCUA Report, NCUA’s Office Small Credit Union Initiatives details what ransomware is and the increasing role it plays in cyberattacks against smaller financial institutions. The article also provides resources that credit unions can use to prevent and respond to these attacks.

The October 2016 issue of The NCUA Report newsletter is available online here.

Articles in this month’s issue include:

  • New Technologies Mean New Risks and New Cybersecurity Demands
  • Chairman’s Corner: Improving NCUA’s Exam Process for Efficiency, Effectiveness, Flexibility
  • Board Member McWatters’ Perspective: Interest-Rate-Risk Supervision Should Not Result in Micromanagement
  • Board Actions: Stabilization Fund’s Net Income in Second Quarter Tops $425 Million
  • Planning and Testing Are Key to Being Able to Recover from a Disruption
  • Reminder: Nominations for Consulting Services Due Nov. 30
  • Outlook Looks Strong As the Fed Moves Closer to Raising Rates
  • State Credit Union Data Show Growth in All Major Categories
  • Submit Voluntary Diversity Checklist by Nov. 30

Published monthly, The NCUA Report is NCUA’s flagship publication. The newsletter highlights important Board activity and key issues that credit union managers, staff and volunteers need to know.