Cyber-Breaches to Result in Over 146 Billion Records Being Stolen by 2023, Data-Security Front and Center for In-District, Recess Meetings with NJ’s Congressional Delegation

report released last week by UK-based Juniper Research estimates that cybercriminals will steal more than 146 billion personal and financial data records globally over the next five years. In addition, the firm expects the U.S. to become an even bigger target for data breaches, with over half of all breaches to occur here by 2023.

Juniper said the U.S. will be targeted because consumer data is collected by various industries that are regulated differently, "making it easier to find and exploit systemic weaknesses."

CUNA and the state leagues continue to press for the adoption of national data and cybersecurity standards that subject all entities that access consumers’ personal financial information to the same standards required of financial institutions and other card issuers under Graham-Leach-Bliley Act. 

The issue is among those being raised during the NJCUL’s annual August recess meetings with members of the state’s congressional delegation. The in-district meetings are open to all NJCUL member credit unions and are an opportunity for credit union advocates to meet with their representatives in Congress without having to travel to Washington.

The League met last week with Rep’s Leonard Lance (R-7) and Donald Norcross (D-1).

Meetings with the balance of the delegation are being scheduled. Anyone interested in participating should contact NJCUL Vice President of Corporate & Governmental Affairs Chris Abeel at cabeel@njcul.org or 800-792-8861, ext. 127. 

The League is also hosting a series cybersecurity sessions to give credit unions the knowledge and tools they need to protect members' data: