There is an epidemic increase in online bank theft, affecting financial institutions and the organizations who bank online. All too frequently, the increasing sophistication of cyber criminal attacks has not been met by a corresponding increase in defenses. The reality is that financial institutions and their account holders both have opportunities to do more to ensure online financial transactions are secure.
If You are a Business Doing Online Banking
- You are at risk. Cyber thieves are targeting small and medium sized businesses spanning every industry.
- You are vulnerable. Cyber thieves can bypass your technology controls – even the integrity of your online bank statement – and they will take advantage of your staff’s lack of awareness.
- Your financial institution may refuse liability. If it was your user ID and your password,you are responsible. Significant losses may not be recoverable.
Lowering Your Risk
- Read Six Simple Steps to Lower Risk of Online Bank Fraud and follow its advice.
- Train your people to recognize the danger signs of online bank fraud attacks.
- Call for our free and confidential consultation. We’ll help you get your arms around managing this risk.
If You are a Victim of Online Bank Fraud
- Immediately notify your financial institution and ask them to recover the money.
- Call us so we can preserve the evidence of bank fraud.
- If you believe your financial institution is not sufficiently responsive, download our White Paper and forward it to your attorney. Your financial institution may bear some of the responsibility for your loss. Contact us for more information.
If You Are a Financial Institution
Protect Your Account Holder
Make sure your online security procedures are commercially reasonable, in accordance with Uniform Commercial Code § 4A-202 (c)
For more information, see our White Paper
Inform Your Account Holder
Bring in Dr Stahl to speak with account holders and help them understand what they can do to keep themselves safe.