ACH Fraud Indiana

Infosight Security Awareness

Today, more people are choosing digital and electronic means to receive their checks, pay bills, and send money, rather than using checks. This is why your organization needs to know and understand just how common ACH Fraud in Indiana has become.

Customers using these electronic ways are a highly targeted medium for cybercriminals; and they do steal their money. These hackers or cybercriminals use a range 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 this information, it is very simple for them to commit ACH fraud - transferring money out of your customer’s bank account, and into theirs. Most of the time, they are targeting small-to-medium-sized businesses, because these businesses often have not adopted a strong information security posture to prevent ACH fraud in Indiana.

There is no “one-size-fits-all” security solution. Every organization has its own security measures, not only to protect their 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