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