EBanking Fraud Indiana

Infosight Security Awareness

Sending money electronically has its risks. Unfortunately, cybercriminals have discovered how to steal your customer’s hard-earned money. This has lead to a very high rate of eBanking fraud in Indiana. Although, eBanking is more convenient for your customers, they may not realize the full risk of this growing form of banking.

In today’s digital economy, many of your customers prefer to receive employment compensation through direct deposit. They also find it more convenient to pay bills and send money electronically, rather than using checks. This has allowed cybercriminals to hack into your customer's accounts and commit eBanking fraud in Indiana.

They use a range of tools that include; phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware, to obtain your customers’ bank logon credentials. This is all they need to steal your customer's hard earned money, open up credit cards, equity loans, and more.
 
Usually, they target small-to-medium-sized businesses to perform their eBanking fraud in Indiana. Establishing a strong information security posture is not a “one-size-fits-all” solution, and it’s not as simple as installing a firewall or having anti-virus protection to mitigate eBanking fraud, as you know. Each organization has unique business functions that require appropriate security measures to be in place to, not only protect their organization from eBanking fraud in Indiana, but to comply with industry standards, federal regulations and state privacy laws.

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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