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