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October is National Cybersecurity Awareness Month, and credit unions are reminded to ensure every effort is being made to thwart would-be hackers. Financial losses due to cybercrime reached $2.7 billion in 2018.

The most prevalent crime types reported by victims were non-payment/non-delivery, extortion and personal data breach.

Cybersecurity remains a supervisory priority for the NCUA, and the agency puts special emphasis on:

-Advancing consistency, transparency and accountability within the cybersecurity examination program;
-Encouraging due diligence for supply chain and third-party service provider management at credit unions;
-Assisting institutions with resources to improve operational hygiene and resilience; and
-Ensuring NCUA’s systems and collected controlled unclassified information is secure.

The agency maintains a cybersecurity resources webpage to provide credit unions with important information, including regulations and guidance, about protecting themselves and their members from cyber threats.

During Cybersecurity Awareness Month, the NCUA will share tips on its Facebook page and on Twitter about online security, recognizing and preventing identity theft, and what consumers can do if they fall victim to a cybercrime. The NCUA provides consumers with information on staying safe in the Be Smart Online section of MyCreditUnion.gov.