ACH Fraud Florida

With the advancement in today's technical world, more people are using the convenient and faster ways to do their banking electronically, and on line. This is why you need to make sure that your organization is doing everything it can to prevent ACH fraud in Florida.

What many people do not realize, is that there are many cybercriminals, who have found ways to hack into banking systems, and steal your customers hard earned money. These hackers are known to have used phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware, to obtain your customers’ bank logon credentials.

Unfortunately, once they have this information, they can easily commit ACH fraud - transferring money out of your customer’s bank account and into theirs. You need to make sure that your organization is protected from this highly targeted form of fraud. There is no one set standard of security against ACH fraud in Florida.

Every organization is different, using different systems, and networks. Your organization has a serious responsibility, not only to protect your customers 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