NCUA Regulatory Compliance
Thales’ CipherTrust and SafeNet Data Security Products help US Credit unions comply with The National Credit Union Administration's (NCUA) regulations and requirements.
The National Credit Union Administration (NCUA) is an independent federal agency that requires U.S. federally insured credit unions to establish a security program that addresses the privacy and protection of customer records and information. NCUA conducts audits of credit unions based on principles and standards outlined by the Federal Financial Institutions Examination Council (FFIEC). The FFIEC standards call for numerous security controls, including data access controls, encryption and key management, and security monitoring.
Thales solutions can help address FFIEC standards, including:
According to FFIEC1:
Financial institutions should have an effective process to administer access rights. The process should include:
FFIEC also notes:
Financial institutions should employ an encryption strength sufficient to protect information from disclosure until such time as the information's disclosure poses no material threat. …. Decisions regarding what data to encrypt and at what points to encrypt the data are typically based on the risk of disclosure …. Encryption may also be used to protect data in storage. The implementation may encrypt a file, a directory, a volume, or a disk.
Since security is primarily based on the encryption keys, effective key management is crucial. Effective key management systems are based on an agreed set of standards, procedures, and secure methods that address Source: ISO 17799, 10.3.5.2
In addition, FFIEC offers guidelines for security monitoring.4
Financial institutions should gain assurance of the adequacy of their risk mitigation strategy and implementation by:
Thales can help credit unions comply with NCUA regulations through:
The first step in protecting sensitive data is finding the data wherever it is in the organization, classifying it as sensitive, and typing it (e.g. PII, financial, IP, HHI, customer-confidential, etc.) so you can apply the most appropriate data protection techniques. It is also important to monitor and assess data regularly to ensure new data isn’t overlooked and your organization does not fall out of compliance.
Thales’ CipherTrust Data Discovery and Classification efficiently identifies structured as well as unstructured sensitive data on-premises and in the cloud. Supporting both agentless and agent-based deployment models, the solution provides built-in templates that enable rapid identification of regulated data, highlight security risks, and help you uncover compliance gaps. A streamlined workflow exposes security blind spots and reduces remediation time. Detailed reporting supports compliance programs and facilitates executive communication.
Thales Access Management and Authentication solutions provide both the security mechanisms and reporting capabilities organizations need to comply with data security regulations. Our solutions protect sensitive data by enforcing the appropriate access controls when users log into applications that store sensitive data. By supporting a broad range of authentication methods and policy driven role-based access, our solutions help enterprises mitigate the risk of data breach due to compromised or stolen credentials or through insider credential abuse.
Support for smart single sign on and step-up authentication allows organizations to optimize convenience for end users, ensuring they only need to authenticate when needed. Extensive reporting allows businesses to produce a detailed audit trail of all access and authentication events, ensuring they can prove compliance with a broad range of regulations.
The CipherTrust Data Security Platform is an integrated suite of data-centric security products and solutions that unify data discovery, protection, and control in one platform.
Thales High Speed Encryptors (HSEs) provide network independent data-in-motion encryption (Layers 2,3 and 4) ensuring data is secure as it moves from site-to-site, or from on-premises to the cloud and back. Our HSE solutions allow customers to better protect data, video, voice, and metadata from eavesdropping, surveillance, and overt and covert interception—all at an affordable cost and without performance compromise.
Luna HSMs from Thales provide a hardened, tamper-resistant environment for secure cryptographic processing, key generation and protection, encryption, and more. Available in three FIPS 140-2 certified form factors, Luna HSMs support a variety of deployment scenarios.
In addition, Luna HSMs:
Secure your digital assets, comply with regulatory and industry standards, and protect your organization’s reputation. Learn how Thales can help.
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