EBanking Fraud Tampa

Infosight Security Awareness

In today’s digital economy, your customers prefer direct deposits and electronic transfers, instead of the traditional ways of banking. But electronic banking does pose threats. That is why your business needs to have security systems in place, to protect your customers from eBanking fraud in Tampa.

Unfortunately, cybercriminals have discovered how to steal your customer’s hard-earned money. They use a variety of tools, including phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware, to obtain your customers’ bank logon credentials.

Once they have all this information, they use it to commit eBanking fraud in Tampa; EBanking fraud not only consists of stealing all of your customer's money, but opening up lines of credit, loans, and credit cards, that can severely damage your customers good name and credit scores.

Usually, they 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. This is why you need to make sure you have a strong security structure in place, to avoid eBanking fraud in Tampa. Just being compliant with industry standards, ever-changing federal regulations, and state privacy laws, is definitely not enough to protect your customers.

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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