The Increase in Cyber Vulnerabilities for Credit Unions
March 10, 2024
Chris Clements, VP of Solutions Architecture at CISO Global
The past decade has brought a rapid digital transformation in the banking sector, with credit unions embracing technology to enhance their services. While these upgrades have undoubtedly improved the customer experience, it has also exposed credit unions to a myriad of cyber threats. While credit unions were once considered safe havens for financial transactions, many reported cyber-attacks in 2023. Why are credit unions finding more cyber vulnerabilities in their networks?
Phishing Attacks and Social Engineering
Phishing attacks are one of the most common tools in a cyber criminal’s arsenal. These attacks have become more sophisticated, with cyber criminals employing social engineering tactics to trick credit union employees and members into divulging sensitive information.