first_imgHow much will it take to defend against them all?by: Edwin MachAs a C-suite executive for your credit union, you have just spent a great deal of money on the latest security boxes and antivirus software to keep the hackers out of your financial institution. (JP Morgan spent $250 million, according to Bloomberg.) You go to bed every night assured that no hacker will have access to your members’ data. Then, one day, you wake up and discover that your members’ records were compromised.This real scenario could happen to any credit union; it happened to JP Morgan. With such a large annual IT budget, one wonders how much money one has to spend to create an impenetrable wall around members’ data. This begs the question: Is it how much money one spends or is it how one spends it? Or perhaps it’s not how one spends it, but how the company governs its data through security policies and practices?Your security policies determine your spending. What you choose to spend on and how much, should depend on your credit union’s security policies. For example, if your security policies dictate that all customer information must be encrypted, it would be a good idea to research the key management and encryption hardware and software out there that meets your minimum security level and access policies. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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