The 2016 Bangladesh bank hack raised new concerns related to cyber threats among financial providers, including credit unions. A former White House chief information officer, Theresa Payton, was a keynote speaker at the World Credit Union Conference in Belfast.
She told credit union representatives that cyber security should be one of the main topics on their agenda. “Members deserve the latest and greatest technology. But a breach is inevitable. All technology can be upgraded by design today, which means it can be open, which means it can be hacked,” she said.
Ms Payton is herself a member of two credit unions, through her father, a former US Marine and her husband, who serves in the US Navy. Credit unions provide financial services for USA military personnel and their families across various states.
Between 2006 and 2008 Ms Payton was White House chief information officer where she oversaw IT operations for president Bush and his 3,000 staff. Her prior positions include roles in banking technology at Bank of America and Wells Fargo. In 2008 she founded Fortalice Solutions, a security, risk and fraud consultancy company that works to help organisations understand and improve their IT systems. For the full article click here
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