NAFCU’s cybersecurity resources help CUs navigate changing times

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Last week, Equifax reached a settlement for their massive data breach that affected an estimated 147 million Americans. The company has agreed to pay $700 million for claims tied to the breach, but the topics of data and cybersecurity remain unsettled overall. Institutions, including credit unions, must continue to ensure the safety of their members’ data on an ongoing basis, as threats remain prevalent.NAFCU has long been active with lawmakers on the issues of data and cybersecurity. In 2013, the association’s advocacy efforts approached the massive 2013 Target data breach head-on, calling for a legislative solution to reform the nation’s data security system. And earlier this year, NAFCU’s Executive Vice President of Government Affairs and General Counsel Carrie Hunt reiterated the association’s call for a national data security standard for entities that collect and store consumers’ personal and financial information ahead of a hearing to examine ways to improve the credit reporting system.NAFCU is also engaged with the Financial Services Sector Coordinating Council (FSSCC), which brings together private and public stakeholders to develop critical infrastructure strategies and initiatives. Last week, NAFCU’s Senior Counsel for Research and Policy, Andrew Morris, attended a joint meeting with the FSSCC and the Financial and Banking Infrastructure Committee. The meeting included discussion of a potential framework for promoting sector-specific operational resilience, insights regarding global cybersecurity threats, and potential approaches for enhancing supply chain transparency.last_img read more

Riau Islands governor Nurdin Basirun sentenced to four years in prison for bribery

first_imgA panel of judges at the Jakarta Corruption Court has sentenced suspended Riau Islands governor Nurdin Basirun to four years in prison for accepting bribes in relation to a reclamation project in the province.The governor was also ordered to pay a fine of Rp 200 million (US$12,592) and Rp 4.22 billion in restitution fees for his crimes.“If [the defendant] does not pay [the restitution fee] within one month after the court’s decision, the defendant’s property will be confiscated and auctioned off to cover it,” presiding judge Yanto read the verdict during a virtual hearing on Thursday. The court also revoked Nurdin’s right to run for office for the next five years.Prosecutors previously demanded a six-year sentence and a fine of Rp 250 million.Read also: Reclamation project delayed in Riau Islands after governor nabbed for alleged briberyBoth Nurdin and Corruption Eradication Commission (KPK) prosecutors told the bench that they were considering whether to appeal the sentence. The KPK arrested and named Nurdin a graft suspect in July last year for allegedly accepting bribes and unlawful gifts from local businessman Abu Bakar over the deliberation of the province’s zoning plan on coastal areas and small islands.Abu Bakar allegedly bribed the governor in exchange for a reclamation permit at Tanjung Piayu in Batam, which would later be used as a resort and tourist area even though the site was previously reserved for land cultivation and a protected forest.Nurdin is suspected of having accepted a total of Rp 665 million in different currencies, including the Singaporean dollar and US dollar.The KPK also named Abu Bakar, Riau Islands Maritime Affairs Agency head Edy Sofyan and agency official Budi Hartono suspects in the case.Nurdin was elected Riau Islands governor in April 2016. He was replaced by his deputy Isdianto shortly after his arrest.Topics :last_img read more