ACH Fraud Ohio

Infosight Security Awareness

ACH fraud in Ohio is on the rise with the increase of electronic banking. So many of your customers are choosing direct deposit and electronic bill payment and transfers. What they do not realize, is that as convenient as this is, it also comes with great degrees of risk.

Unfortunately, cybercriminals have discovered how to steal your customer’s hard-earned money. Using an array of tools, including phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware, they are able to obtain your customers’ bank logon credentials. Once they have this information, it is easy for them to commit ACH fraud in Ohio, by simply transferring your customer's money out of their account, and into theirs. 

Due to the fact that many small to medium organizations do not use dual controls on their accounts, nor have they adopted a strong information security posture to mitigate ACH fraud in Ohio, they have become the highly targeted by these cybercriminals.

Establishing a strong information security posture is not a “one-size-fits-all” solution; it is not as simple as installing a firewall, or having anti-virus protection, to mitigate ACH fraud, as you know.

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