The numbers are in. According to the Identity Theft Resource Center, security breaches in 2019 rose 17 percent over 2018’s numbers. The banking, credit, and financial sector accounted for a mere 7.3 percent of the nation’s breaches. However, 61.1 percent of exposed information came from the industry, exposing 100.6 million sensitive and 20,000 non-sensitive member records.
Unauthorized access to bank websites made up the majority of online security issues at 41.7 percent. Hacking and other methods of intrusion, such as phishing, ransomware and malware, and skimming, caused 28.7 percent of breaches. Human error and maleficence made up the remainder.
Looking forward, the number of security breaches doesn’t appear to be slowing down for 2020. Is your credit union website at risk? Our web hosting experts present four ways of ensuring your data and your members’ information doesn’t fall into the wrong hands.
- Secure Socket Layer (SSL) Encryption
- Vulnerability Scanning
- Anti-Virus and Anti-Malware Software
- Automatic Backup
- Final Words
Secure Socket Layer (SSL) Encryption
A few weeks ago, we explained why HTTPS is mandatory for your credit union website. Secure socket layer (SSL) encryption is at the heart of safeguarding your website. SSL ensures your members can log in to online banking and view their accounts without fear of a hacker stealing their password or personal information. Members can also confidently fill out and complete a loan or new account application knowing that only you can view their identifying information.
Vulnerability Scanning
Once SSL encryption secures your credit union website, you’ll want to make sure to monitor your system constantly by inspecting for weak points that hackers can easily access. A vulnerability scanner identifies weaknesses in your computers, networks, and communications equipment that can be attacked by a SQL Injection or a cross-site scripting attack. Both of these insert malicious code into your HTML, allowing criminals to steal sensitive information — like member passwords — or to redirect member activity from your website right into their hands.
Anti-Virus and Anti-Malware Software
Computer viruses, a type of malware, have been around as long as the internet. Malware and viruses spread by way of infected files and programs. You can install anti-virus and anti-malware software on the computers in your physical credit union as a precaution. However, the first line of defense, in terms of web security, should be the web host of your credit union website.
Your credit union web hosting provider should have the most up-to-date scanning software to check your site daily for the newest forms of attack. If not, identity thieves can trick your members into providing their personal information or even steal their credit card or account information to gain access to their funds.
Automatic Backup
If you discover your credit union website has been breached, your members’ information is no longer secure, and your entire database may be corrupt or compromised. Your first remedy is to restore your entire system to how it was before your website was infiltrated. Having access to a recent backup makes recovery faster, easier, and far less expensive than rebuilding the data.
Final Words
You can enact online security measures like installing anti-virus software and performing scheduled backups on your credit union website. However, a trustworthy credit union web hosting service can do those things and more.
CUWebsite™ Services will monitor your website and the host server 24/7 and alert you of any suspicious activity. For an added layer of security, we have partnered with Trustwave to provide vulnerability scanning.
If hackers breach your website or even if an employee accidentally deletes data from your site, we backup your site daily and can restore all your information without any interruption, and your members will be none the wiser. Talk to one of our web hosting experts to discover how we can help you avoid risk.
