Credit Unions are being attacked more than larger banks in a new trend observed by SecureWorks.  The “weakest link” theory says that criminals will take the easiest approach to stealing money, and they efforts by the big banks to strengthen their security, gives this result.

Finextra: Hackers target credit unions

SecureWorks’ credit union clients range from large firms – with $500m to billions in assets – to smaller organisations with under $500m in assets. On average, SecureWorks says it blocks 767 attacks per day per credit union client.

Jon Ramsey, CTO, SecureWorks, says credit unions are experiencing more Internet attacks because hackers assume that their networks are less protected than larger banks’ networks.

Relevance to Bankwatch:
Whatever your strategy for technology, leading, middle of the pack, fas follower, etc, don’t let your bank become the weakest link, because your fraud will suffer.  This trend has been noted with the implementation of chip cards, firewall/ security protection, and most recently, two-facto authentication.

Technorati Tags: online_banking, online_security