EBanking Fraud Ohio
With the entire economy becoming increasingly digital, and many of your customers
selecting eBanking services, you need to make sure your business is
protected from eBanking fraud in Ohio. With all the electronic receiving
and sending money that happens on a daily basis, your business needs to
make sure that all customers are properly protected and secure.
There are cybercriminals who have cleverly developed ways to steal your
customer's money. They use a variety 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 what they need, it is easy for them to commit eBanking
fraud in Ohio, hurting your customer's finances and in many cases, putting them in
a long term hardship. These criminals like to 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 eBanking fraud.
Today, more than ever, it is imperative that you establish a strong
information security posture. Since there is no “one-size-fits-all”
solution, you need to have your security system checked for
vulnerabilities, and have the proper security programs put in place. Some
businesses foolishly believe, that as long as they comply with industry standards,
ever-changing federal regulations and state privacy laws their customers
are safe; this sadly is not true at all.
In an effort to protect both consumers and businesses from eBanking
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
eBanking 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 eBanking
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 eBanking fraud. These
increased security procedures may help reduce the number of incidents,
mitigating financial losses, business risks and reputational damage that
can result from eBanking fraud attacks. Contact InfoSight to learn more.
Complementary Services
Vulnerability Assessment
Penetration Testing
Intrusion Detection and Prevention