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 FFIEC:
Financial institutions should have an effective process to administer access rights. The process should include:
FFIEC also notes:
In addition, FFIEC offers guidelines for security monitoring.
Financial institutions should gain assurance of the adequacy of their risk mitigation strategy and implementation by:
Thales’ Vormetric Data Security Platform and SafeNet Multi-Factor Authentication provide state of the art user access control.
Thales protects the data itself through Vormetric Transparent Encryption with integrated Key Management for data at rest, Application Encryption, Tokenization with Dynamic Masking and more. These techniques make the data meaningless and worthless without the tools to decrypt it.
Thales' SafeNet FIPS-certified network encryption devices offer proven high-assurance network security for your sensitive data in motion, including real-time video, and voice.
Thales enables the credit union to monitor and identify extraordinary data access. Vormetric Security Intelligence provides detailed management logs that specify which processes and users have accessed protected data. The detailed management logs specify when users and processes accessed data, under which policies, and if access requests were allowed or denied. The management logs will even expose when a privileged user submits a command like 'switch users' in order to attempt to imitate, and potentially exploit, the credentials of another user.
Sharing these logs with a security information and event management (SIEM) platform helps uncover anomalous patterns in processes and user access, which can prompt further investigation. For example, an administrator or process may suddenly access much larger volumes of data than normal, or attempt to do an unauthorized download of files. These events could point to an APT attack or malicious insider activities.
Perhaps the most comprehensive data privacy standard to date, GDPR affects any organisation that processes the personal data of EU citizens - regardless of where the organisation is headquartered.
Any organisation that plays a role in processing credit and debit card payments must comply with the strict PCI DSS compliance requirements for the processing, storage and transmission of account data.
Data breach notification requirements following loss of personal information have been enacted by nations around the globe. They vary by jurisdiction but almost universally include a “safe harbour” clause.