NCUA released a letter to credit unions detailing its supervisory priorities for its 2024 examination program (24-CU-01). NCUA will continue to conduct exams both onsite and offsite. The Small Credit Union Exam Program continues to remain in place for most federal credit unions with assets under $50 million; while the risk-focused exam procedures will be […]
Last year we saw a continuing upward trajectory for cyber-attacks and incidents, many of which target victims are still trying to learn and recover from. With the persistence of cyber threats, growing concerns, and increased regulatory scrutiny, BTG recommends credit unions put plans in action to address the following cybersecurity priorities. AI and Deepfakes Using […]
Click here to read this quarter's Compliance Spotlight - highlighting the latest company news, regulatory reminders, and valuable resources to help elevate your institution's compliance programs!
Over the past two years, business email compromise (BEC) attacks have increased by 175%. A BEC attack happens when a scammer or cyber criminal sends an email message appearing to come from either a vendor or an employee at your organization. The recipient falls victim to the scam because the email message seems like a […]
Ransomware attacks accounted for around 20% of all cyber crimes in 2022. As ransomware attacks continue to increase and evolve, financial institutions should mature beyond prevention best practices and implement an incident response playbook or checklist that can be referenced in the event of a ransomware attack. We recommend financial institutions review the following resources […]
BTG will be exhibiting at the Hawaii Credit Union League's Annual Convention held April 27th-29th at the Grand Hyatt Kauai Resort & Spa. Timothy Buckley and Elisabeth Esposito will be speaking on the topic of Cybersecurity Fire Drills: A New Layer of Protection on Thursday, April 27th at 3:00pm. In this session, BTG will outline […]
Click here to read this quarter's Compliance Spotlight - highlighting the latest company news, regulatory reminders, and valuable resources to help elevate your institution's compliance programs!
Earlier this year, BTG shared exam preparation insights following the release of NCUA’s 2023 Supervisory Priorities. One of the priorities included an update to the Information Security Examination (ISE) procedures. The ISE procedures outline exam statements grouped within three levels, which are based on the size and complexity of the credit union. The exam statements […]
Effective September 1, 2023, the final rule requires federally insured credit unions to notify NCUA as soon as possible, within 72 hours, after it reasonably believes that a reportable cyber incident has occurred. Reportable cyber incidents include those that lead to a substantial loss of confidentiality, integrity, or availability of a network or member information […]
NCUA released a letter to credit unions detailing its supervisory priorities for 2023 (23-CU-01). The NCUA will continue to conduct exams both onsite and offsite. The Small Credit Union Exam Program will remain in place for most federal credit unions with assets under $50 million; while the risk-focused exam procedures will be used for all […]
