Cyber Risk Awareness
With growth in both the number and sophistication of cyber threats and the daily reports of security breaches, cyber risk is at the top of the list of the most significant risks that organizations including universities face today. Cyber Risk Management is the process of managing risks associated with the use of information technology. Digital technologies, devices and media have brought us great benefits and offer enormous opportunities, but their use also exposes us to significant risks. The best way to minimize exposure and to protect the confidentiality, integrity, and availability of your online environment is to follow security guidelines put in place by the university. It is important to protect your cyber environment just as you would your physical location.
Guidelines for Interacting with Online Banking and Financial Environments
- Use a dedicated system to access the banking or financial site. The dedicated system should be restricted from visiting all but a handful of sites necessary to interact with the intended site. The dedicated system should NOT have any ancillary software installed (e.g. Email, Office, etc.) and should NOT be used for other purposes. Remember that the dedicated system approach only works if you *only* access the intended site from the dedicated system. Any exception undermines the purpose of this approach;
(Contact Campus Technology Services to request a dedicated system.)
- Encrypt all sensitive data;
- Take advantage of two-factor authentication and sign up for fraud alerts when available;
- Talk to the institution about programs that will safeguard the university from unauthorized transactions;
- Look out for unexplained account or network activity, pop ups, etc. If detected, immediately contact your financial institution, stop all online activity;
- The account agreement with the institution should detail what reasonable security measures are required. It is critical that you understand and implement the security safeguards in the agreement. Understand the university’s responsibilities and liabilities.
Using a dedicated system supplied by Campus Technology Services ensures your online environment is up to date with the latest computer security releases and offers the best anti-fraud protection for conducting university business. A shared responsibility between the university and the financial institution is another one of the most effective ways to minimize security risk.