Cybercrime
Cyber criminals are finding it more & more difficult to hack into systems, so they are choosing an easier target: PEOPLE!
Cybercrime is a lucrative trade and it's growing. Criminals have identified where the money is and, as a result, cybercrime continues to be a major threat. The more we know about cybercrime, the better equipped we will be to defend against it; and the best way to do that is to understand who the typical perpetrators are, what motivates them and what methods they use to perpetrate their crimes.
Phishing
A social engineering technique used to deceive people into divulging information. Phishing is the fraudulent practice of sending emails purporting to be from legitimate companies to induce individuals to reveal personal information, such as usernames, passwords & credit card numbers.
Malware
This an intrusive software that is designed to damage and destroy computers and computer systems. Malware is a contraction for “malicious software.” Examples of common malware includes viruses, worms, Trojan viruses, spyware, adware, and ransomware.
Ransomware
A form of malware designed to encrypt files on a device, rendering any files and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption.
Corporate Account Takeover
A type of business identity theft where cyber thieves gain control of a business' bank account by stealing employee passwords and other valid credentials. Thieves can then initiate fraudulent wire and ACH transactions to accounts controlled by the thieves.
Identity Theft
Identity theft continues to be one of the fastest growing methods to carry out criminal activity. It involves unauthorized use of your name and personal details to either steal from you or commit a crime in your name.
Information Security Best Practices
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Computer/Network Security
- Ensure Security Patches for Microsoft and Third Party applications are up-to-date.
- Keep operating systems up-to-date.
- Use Anti-Virus and Anit-Malware with up-to-date virus definitions.
- Limit computer access to those who need it.
- Use a Network Firewall and NAT internal network devices.
- Use wireless Encryption (WPA/WPA2) for Internet access.
- Check your accounts regularly and report suspicious or unusual activity immediately.
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Password Security
- Use strong passwords or passphrases (8+ characters, upper and lower case, alphanumeric, and a least one special character).
- Do not use easily guessed passwords such as birthdays or family members.
- Protect passwords.
- Use different passwords for each application.
- Never share passwords or leave them accessible to others.
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Email Security
- Never reply to unsolicited emails.
- Always avoid clicking on any hyperlinks.
- Avoid downloading pictures in spam.
- Avoid scams and advance-fee fraud emails.
- Be careful how much information you share.
- Treat with extreme caution any unsolicited email.
- Don’t use unsecure email accounts to send and receive sensitive information.
- Don’t send personal and financial information via email.
- Encrypt your important emails.
- Verify email attachments are valid from the sender prior to opening.
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Additional Security for Businesses
- The Federal Financial Examination Council (FFIEC) suggest businesses conduct periodic assessments of internal controls.
- FFIEC also suggests that businesses use layered security for online banking system administrators.
- Businesses should initiate enhanced controls for high-dollar transactions.
- Use dual control when possible for authorizing money movement transactions.
- Utilize Positive Pay for ACH and Check fraud detection.
- Utilize a call-back procedure for any payment request from vendors sent via email.
- Ensure each user has their own login and never share usernames or passwords.
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Digital Services Security
- Protect your data by never providing sensitive information through an unsecure channel.
- Restrict access to systems, files, and computers used for online banking transactions to trusted personnel.
- Avoid pop-ups, unknown emails, and links (never click on links or attachments from unknown senders).
- Use strong passwords or passphrases.
- Never share username and password information.
- Connect to secure Wi-Fi and avoid conducting any bank business over public Wi-Fi.
- Enable firewall protection at work and at home.
- Routinely install security software updates and back up data files
- Block access to unnecessary or high-risk websites.
- Reconcile accounts daily, at a minimum, review pending or recently sent ACH and Wire transfer files.
Additional Security Resources
To learn more about the top scams currently circulating, visit these sites.
Other Helpful websites:
To report fraud, contact us immediately!
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