Sep 18

2017

Enabling Audits and Cybersecurity Compliance

By Great Bay Software

In common with the larger financial services industry, credit unions also continue to be a top target for cyberattacks. The risks are high and the consequences are costly. Given this, the NCUA mission is to promote customer confidence by providing a nationwide “safe and sound credit union system”. Completing audits and meeting compliance requirements are a constant exercise. IT staff are expected to have the appropriate procedures in place to anticipate, identify and mitigate cybersecurity risks.

The growing number of unknown devices on your network – BYOD, IoT and others - expands the attack surface and creates new challenges. Smart computing devices such as PCs may no longer be the majority of your endpoints. You may not even know about the IoT devices such as biometrics, alarm systems, security cameras, and more that are attached to your network.

 

To support Credit Union IT security teams, Great Bay Software has created an Audit & Compliance Tool Kit for Credit Unions & Community Banks. Be sure to check it out. We think you’ll find the collection of resources to be informative and useful.

 

The tool kit includes a mix of assets that are designed to support your efforts in mitigating cybersecurity risks, as well as easing your audit and compliance burden:

 

  • Independent Bank Guidance to Achieving the Successful FFIEC Audit Webinar.
  • Proven tips for checking the box on NCUA Audit Compliance White Paper.
  • How one credit union minimized their risk of network breaches, going beyond “check box” security.
  • The challenges of NAC systems and recommended alternatives for securing networked devices blog posts.

 

We know that NCUA compliance covers all CU operations. However, as they increase their focus on cybersecurity, network endpoints are considered to be the greatest source of risk. With wireless network access, BYOD, IoT and the sheer number of devices, innovative security solutions are required.

 

No doubt, Great Bay Software has a stake in the game. We deliver optimal solutions for financial organizations to increase device security and address industry compliance requirements. This is a big reason why we put together this Audit & Compliance Tool Kit.

 

Our Beacon Suite product addresses the NCUA “top of the list” endpoint compliance requirements:

  1. Knowing the identity of every device on the network and maintaining an inventory of all endpoints.
  2. Assuring that all endpoints are adequately authenticated for 100% access enforcement.

 

Our solutions achieve this by providing the endpoint discovery, network visibility and profiling insight that is fundamental to credit union cybersecurity, NCUA audits and compliance. Read our recent blog post about the “Fin-ternet” of Things.

 

Learn more about the Great Bay Software’s suite of security products.

 

NCUA Exam | How to Check the Box & Decrease Cyber Risk at Your Credit Union

Protecting Against MAC Spoofing Attacks

3 Tips to Block Unauthorized Access to the Network

 

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