Wire Fraud North Carolina

With wire fraud in North Carolina on the rise, your business needs to make sure it is doing everything it can to protect its customers. As easy and fast as eBanking is, there are still many risks.

Unfortunately, cybercriminals have discovered how to steal your customer’s hard-earned money. They use an array of tools to get your customers’ bank logon credentials. These tools include; phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware. Applying these tools, they are able to access accounts of business customers and conduct serious wire fraud in North Carolina.

They more often than not, 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 wire fraud in North Carolina.

Your company should establish a strong information security posture; this 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 wire fraud. Each organization has unique business functions which require that appropriate security measures be put in place.

In an effort to protect both consumers and businesses from wire 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 wire 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 wire
      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 wire fraud. These increased security procedures may help reduce the number of incidents, mitigating financial losses, business risks and reputational damage that can result from wire fraud attacks. Contact InfoSight to learn more.

Complementary Services
Vulnerability Assessment
Penetration Testing
Intrusion Detection and Prevention