EBanking Fraud Tennessee

Infosight Security Awareness

EBanking fraud in Tennessee is on the rise, with thousands of breaches happening everyday to your customers. Since electronic banking services have become more and more used, you need to make sure that your business, and its systems have the proper security measures in place to prevent eBanking fraud.

There is a an array of tools that cybercriminals use to get your customers' bank logon credentials. Included in their tools are: phishing emails, compromised legitimate websites, fake friend requests on social sites, and malware. They use these tools to obtain the information they need, to commit eBanking fraud in Tennessee.

These criminals often 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 in Tennessee. After they retrieve your customers' information, they can easily take their money by simply transferring it to their account.

Each organization has unique business functions that require appropriate security measures to be in place to, not only protect their organization from eBanking fraud, but to comply with industry standards, ever-changing federal regulations, and state privacy laws.

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
      • 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