NCUA Regulatory Compliance

Thales eSecurity's Vormetric and SafeNet Data Security Products help US Credit unions comply with The National Credit Union Administration's (NCUA) regulations and requirements

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NCUA Regulatory Compliance

The National Credit Union Administration conducts audits of credit unions based on principles and standards outlined by the Federal Financial Institutions Examination Council (FFIEC). The FFIEC standards call for numerous security controls, including data access controls, encryption and key management and security monitoring.

Thales eSecurity solutions can help address FFIEC standards, including:

  • Data encryption and key management
  • Access controls
  • Security intelligence
Vormetric Data Security Platform
Access Rights Administration

According to FFIEC:

Financial institutions should have an effective process to administer access rights. The process should include:

  • Assigning users and devices only the access required to perform their required functions,
  • Updating access rights based on personnel or system changes,
  • Reviewing periodically users' access rights at an appropriate frequency based on the risk to the application or system ...
Encryption and Key Management

FFIEC also notes:

  • Encryption
    Financial institutions should employ an encryption strength sufficient to protect information from disclosure until such time as the information's disclosure poses no material threat. …. Decisions regarding what data to encrypt and at what points to encrypt the data are typically based on the risk of disclosure ….Encryption may also be used to protect data in storage. The implementation may encrypt a file, a directory, a volume, or a disk.
  • Encryption Key Management
    Since security is primarily based on the encryption keys, effective key management is crucial. Effective key management systems are based on an agreed set of standards, procedures, and secure methods that address Source: ISO 17799, 10.3.5.2
Security Monitoring

In addition, FFIEC offers guidelines for security monitoring.

Financial institutions should gain assurance of the adequacy of their risk mitigation strategy and implementation by:

  • Monitoring network and host activity to identify policy violations and anomalous behavior;
  • Monitoring host and network condition to identify unauthorized configuration and other conditions which increase the risk of intrusion or other security events;
  • Analyzing the results of monitoring to accurately and quickly identify, classify, escalate, report, and guide responses to security events; and
  • Responding to intrusions and other security events and weaknesses to appropriately mitigate the risk to the institution and its customers, and to restore the institution's systems.
Limit Access to Only Those Who Need to See the Data to Do Their Jobs

Thales’s Vormetric Data Security Platform and SafeNet Multi-Factor Authentication provide state of the art user access control.

  • Separation of privileged access users and sensitive user data. With the Vormetric Data Security Platform, administrators can create a strong separation of duties between privileged administrators and data owners. The Vormetric Data Security Platform encrypts files, while leaving their metadata in the clear. In this way, IT administrators—including hypervisor, cloud, storage, and server administrators—can perform their system administration tasks, without being able to gain privileged access to the sensitive data residing on the systems they manage.
  • Separation of administrative duties. Strong separation-of-duties policies can be enforced to ensure one administrator does not have complete control over data security activities, encryption keys, or administration. In addition, the Vormetric Data Security Manager supports two-factor authentication for administrative access.
  • Granular privileged access controls. Thales eSecurity’s solution can enforce very granular, least-privileged user access management policies, enabling protection of data from misuse by privileged users and APT attacks. Granular privileged user access management policies can be applied by user, process, file type, time of day, and other parameters. Enforcement options are very granular; they can be used to control not only permission to access clear-text data, but what file-system commands are available to a user.
  • SafeNet multi-factor authentication secures access to corporate networks, protecting the identities of users, and ensuring that a user is who he or she claims to be.
Protect the Data a Rest

Thales eSecurity protects the data itself through Vormetric Transparent Encryption with integrated Key Management for data at rest, Application Encryption, Tokenization with Dynamic Masking and more. These techniques make the data meaningless and worthless without the tools to decrypt it.

Protect the Data in Motion

Thales' SafeNet FIPS-certified network encryption devices offer proven high-assurance network security for your real-time video, voice, and other sensitive data in motion.

Monitor Access to Data

Thales eSecurity enables the credit union to monitor and identify extraordinary data access. Vormetric Security Intelligence provides detailed management logs that specify which processes and users have accessed protected data. The detailed management logs specify when users and processes accessed data, under which policies, and if access requests were allowed or denied. The management logs will even expose when a privileged user submits a command like 'switch users' in order to attempt to imitate, and potentially exploit, the credentials of another user.

Sharing these logs with a security information and event management (SIEM) platform helps uncover anomalous patterns in processes and user access, which can prompt further investigation. For example, an administrator or process may suddenly access much larger volumes of data than normal, or attempt to do an unauthorized download of files. These events could point to an APT attack or malicious insider activities.

Research and Whitepapers : Securosis: Cracking the Confusion: Encryption and Tokenization for Data Centers, Servers and Applications by Securosis

This paper cuts through the confusion to help you pick the best encryption and tokenization options for your projects...

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Research and Whitepapers : A Security Survey of Strong Authentication Technologies

All authentication methods are based on providing the legitimate user with a method for proving his or her identity. Such “proof” can involve different form factors, such as something only the user knows (like a password) or something only the user has (like an external piece of hardware or the user’s biometric information). It could also be something that the user is, such as unique physical attributes, for example, a fingerprint or retinal scan.

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Research and Whitepapers : Assessing the True Cost of Strong Authentication

Many organizations do not consider the Total Cost of Operation of their authentication solution. Instead, they decide based on the up-front purchase price. In fact, infrastructure investments and management overheads dominate the total cost of the solution, and lowering these overheads reduces Total Cost of Operation. Cloud-based services are increasingly becoming an integral part of the enterprise, precisely because they lower costs and management overhead while increasing flexibility.

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Family Brochure : SafeNet High Speed Encryption Solutions

SafeNet High Speed Encryption solutions from Gemalto provide customers with a single platform to encrypt network data in motion, whether on premises or in the cloud.

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Research and Whitepapers : Layer 2 Encryption: A Shift in Network Security

Review this analysis of network threats, which lays the case for Layer 2 network security, and draws on third party reports and customer stories.

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Other key data protection and security regulations

NIST 800-53 / FedRAMP

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Mandate

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Since June 5, 2014 federal agencies have been required to meet FedRAMP standards, ensuring they meet internal data security standards and extended security controls for cloud-computing.

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HIPAA

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Regulation

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These regulations cover healthcare information in the US, HIPAA relates to protection; encryption, key management. etc and HITECH relates to disclosure of data breaches.

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SOX

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Regulation

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United States Federal Law setting standards for a range of US companies, SOX Act sections 302 and 404 relate directly to data protection.

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