NCUA board briefed on cybersecurity, FOM during October board meeting
The NCUA board was briefed on the current state of cybersecurity and field of membership at its October board meeting Thursday.
The cybersecurity presentation outlined how cyberattacks occur and updates on credit union reported cyberattacks and incidents.
Agency staff highlighted ransomware attacks, business email compromises, and cyber attacks on ATMs as the most utilized forms of attack by cyber criminals. The board stressed the importance of reporting cyber incidents by using the NCUA cyber incident reporting resources and reporting cyber incidents within 72 hours of the incident.
The board also received a briefing on new charters and field of membership trends. Staff explained updates to the charter application process as well as data on new charters and updates on the provisional charter pilot program.
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