ACH Fraud Miami

Infosight Security Awareness

With the advancement of the digital economy world, most people are receiving their pay through direct deposit, and selecting electronic transfers and pay on line billing, rather than using checks, or going to the bank.

What many people do not realize, is that ACH fraud in Miami is a highly targeted medium. Banking electronically, unfortunately, comes with many risks. Hackers and cybercriminals have been working on ways to steal your customer's money.

They use many different techniques, and tools, to obtain your customers’ bank logon credentials. Once they have what they need, they are ready to  commit ACH fraud in Miami. Literally just taking someone else's money, and transferring it right into their own accounts.

Creating a strong information security posture is not a “one-size-fits-all” solution. Every organization has unique business functions which require appropriate security measures to be in place to, not only protect the organization from ACH fraud, but to comply with industry standards, ever-changing federal regulations and state privacy laws.

With ACH fraud, cyber criminals can empty a business banking account in a matter of minutes. To make matters worse, banks often have a hard time spotting ACH fraud transactions because the volume of money moving through the network is simply overwhelming.

To safeguard their customers from ACH fraud, financial institutions have invested a great deal of time, energy and finances into combining a variety of technologies into a layered security approach. However, fraudsters are using a variety of techniques in an attempt to thwart these security solutions in order to commit ACH fraud. They understand that if you can’t hack the technology, you can always hack the user. They use:

    • Phishing emails to inject malware on the customer’s computer
    • Mobile malware to take control of the victim’s phone
    • Malicious websites that can distribute malware just by visiting them
    • Social engineering ploys to trick bank customers into divulging sensitive information
    • Free WiFi hotspots to intercept traffic and infect vulnerable devices
    • And more

ACH fraud is very easy to execute. All the fraudster needs is a bank account number and a bank routing number to initiate payments for purchases or to pay a debt by giving these numbers to the vendor.

Complementary Services
Vulnerability Assessment
Penetration Testing
Intrusion Detection and Prevention

 

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