EBanking Fraud Georgia

Infosight Security Awareness

EBanking fraud in Georgia is on the rise, this means you must take every precaution that you can, to prevent this from affecting your customers. There are so many people choosing to use eBanking services everyday, that you must make sure to do everything you can to keep a breach from happening to your customers.

When your customers choose direct deposits and electronic transfer, you must understand the high risk of a hacker breaking into their accounts and stealing their money. With eBanking fraud in Georgia, it is just not wiping out bank accounts that cybercriminals are after. They also use the information they have obtained to open up credit cards, buy big ticket items, and equity loans, under your customer's name.

More often than not, these hackers target small-to-medium-sized businesses, because these businesses often do not use dual controls on their accounts, nor have they adopted a strong information security posture to mitigate eBanking fraud in Georgia. Due to the fact that there is not a “one-size-fits-all” solution for eBanking fraud, your business needs to take all the precautions it can, to avert a breach.
 
Each organization has unique business functions that require appropriate security measures to be in place to, not only to protect their organization from eBanking fraud, but to comply with industry standards, ever-changing federal regulations and state privacy laws. But you also need to have the proper security programs installed, to prevent your customers from becoming another statistic of eBanking fraud in Georgia.

In an effort to protect both consumers and businesses from eBanking fraud, the Federal Financial Institutions Examination Council (FFIEC) has implemented new security guidelines for financial institutions in January 2012. These guidelines describe the measures financial institutions should take to protect Internet banking customers from eBanking fraud and other forms of financial fraud. Three key components were addressed:

    1. Risk Assessments covering changes in threats, technology, and customer adoption of eBanking; transaction volume; actual incidents of security breaches, ID theft or eBanking fraud
    2. Layered Security and Anomaly Detection through Multi-Factor Authentication
    3. Customer Security Awareness and Education

InfoSight can assist you by providing:

    1. Your annual eBanking risk assessment
    2. A GAP analysis
    3. A restructuring of your entire risk management program
    4. A Security Review of your eBanking solution including online banking, MFA
        technologies and other associated eBanking products and applications
    5. Your Customer Security Awareness Program
      • Security Awareness “customer-ready” content for use as part of your consumer and
        commercial clients’ security awareness initiative.
      • Live webinar and onsite workshop education for your customers
      • Security Awareness Newsletter Production to reinforce your organization’s Security
        Program
      • Video “Quick Clips” for Website and e-Delivery
      • ISA Website Content
      • Polls and Surveys
      • Digital Banners for your website or ATMs
      • “On Hold” Telephone Messaging
      • Annual Progress Report to present to examiners

By implementing these sound business practices, financial institutions are able to safeguard their customers against eBanking fraud. These increased security procedures may help reduce the number of incidents, mitigating financial losses, business risks and reputational damage that can result from eBanking fraud attacks. Contact InfoSight to learn more.

Complementary Services
Vulnerability Assessment
Penetration Testing
Intrusion Detection and Prevention

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