In an article published in Credit Union Times, David Katz discusses the importance of cybersecurity for credit union mergers and acquisitions.
In order to properly protect credit unions from risks, it is imperative to understand the basic legal requirements surrounding security programs. This understanding helps to identify potential vulnerabilities and risks the company may face.
The article discusses in-depth nine privacy and security diligence requests that all credit unions should implement including requesting descriptions of security controls in place and requesting copies of an incident response plan.
“The information produced in response to these requests will provide the credit union with a diagnostic picture of the overall data health of the credit unions subject to an acquisition or merger,” said David.