Posted by Mark Brousseau
Deutsche Bank offers the following tips for proactively helping prevent fraud:
1. Know your customer
2. Create new account opening procedures
3. Never provide personal information in response to an unsolicited request
4. If you believe a contact may be illegitimate, get in touch with the financial institution yourself
5. Review account statements regularly to ensure all charges are correct
6. Know your employees
7. Employees need to be aware of and report any suspicious transactions or activity
8. Review hiring and mailroom procedures
9. Monitor activity (new accounts/establish thresholds)
10. Secure all check stock
11. Replace paper documents with electronic payments when possible
12. Move check disbursement activity to electronic payment
13. Conduct surprise audits
14. Understand the liability for fraud
15. Utilize positive pay (payee) services
16. Educate and train employees
17. Never share passwords or utilize them as generic passwords
18. Recertify users and access priveleges regularly
19. Do not write down passwords
20. Ensure segregation of duties
21. Assign priveleges based on job responsibilities, not convenience or availability
22. Do not deviate from procedures without a documented exception approval process
23. Carefully destroy papers with sensitive or identifying information
24. Ensure supervisory oversight by making managers accountable
For more information, you can access Deutsche Bank's Payments Fraud Prevention Webcast at www.highlinewebseminars.com/deutschebank or visit www.db.com/gtb.
Showing posts with label security. Show all posts
Showing posts with label security. Show all posts
Monday, August 18, 2008
Tuesday, July 22, 2008
Cybercrooks Target Online Banking
Posted by Mark Brousseau
An interesting article from USA Today on the latest wave of cybercrime:
Russian cybercrooks target high bank balances online
By Byron Acohido, USA TODAY
Call them the Coreflood Gang. A ring of cyber bank robbers from southern Russia has quietly perfected a way to get a beachhead inside company networks.
Once inside, it infects every PC within reach with a custom-made data-stealing program called Coreflood. The goal: go rip off bank accounts online.
Over the past 16 months, the Coreflood Gang has infected swaths of PCs inside thousands of companies, hospitals, universities and government agencies, says SecureWorks researcher Joe Stewart, who has tracked and documented the spread of Coreflood over that period.
"It's spying on you, capturing your log-ons, user names, passwords, bank balances, contents of your e-mail," Stewart says. "It can capture anything."
Coreflood is part of a class of malicious software, called banking trojans, designed primarily to help crooks break into bank accounts online. The number of banking trojans detected on the Internet this month topped 24,800, up from 3,342 at the start of 2006, security firm F-Secure says.
An infection usually starts when you visit a Web page implanted with a snippet of malicious coding. By simply navigating to the tainted page, your browser gets redirected, unseen, to a hub server that downloads the data-stealing program onto your hard drive.
Dozens of gangs specialize in banking trojans. They have it much easier than phishing scammers, who must lure victims into typing sensitive data on spoofed Web pages, says F-Secure researcher Patrik Runald.
"This is very organized crime," Runald says. "These gangs are hiring people and making tons of money."
The Coreflood Gang is among the most sophisticated. Stewart recently analyzed 500 gigabytes of stolen data stored on a rented hub server. He pinpointed 378,758 Coreflood infections inside thousands of organizations, small and large.
A workplace PC can get a new infection each time someone logs on. The most infections: a county school district with 31,425, a hotel chain with 14,093 and a health care company with 6,744. About 230 networks turned up with 50 or more Coreflood infections, while 35 networks each had 500 or more.
Gang members cull the stolen data for log-ons and account statements, especially bank accounts online with high balances. Next, they log into the accounts and make online cash transfers into "drop" accounts they control.
After having two hub servers shut down by the tech security community in May, the Coreflood Gang rented two new hubs and picked up where they left off. Today, they continue operations unimpeded, says Stewart.
Companies infiltrated by the Coreflood Gang need to rethink how they do network security. Employees surfing the Internet on work PCs ought to take pause. "If you don't understand the threats that are out there, then you probably should not be banking online," Stewart says.
An interesting article from USA Today on the latest wave of cybercrime:
Russian cybercrooks target high bank balances online
By Byron Acohido, USA TODAY
Call them the Coreflood Gang. A ring of cyber bank robbers from southern Russia has quietly perfected a way to get a beachhead inside company networks.
Once inside, it infects every PC within reach with a custom-made data-stealing program called Coreflood. The goal: go rip off bank accounts online.
Over the past 16 months, the Coreflood Gang has infected swaths of PCs inside thousands of companies, hospitals, universities and government agencies, says SecureWorks researcher Joe Stewart, who has tracked and documented the spread of Coreflood over that period.
"It's spying on you, capturing your log-ons, user names, passwords, bank balances, contents of your e-mail," Stewart says. "It can capture anything."
Coreflood is part of a class of malicious software, called banking trojans, designed primarily to help crooks break into bank accounts online. The number of banking trojans detected on the Internet this month topped 24,800, up from 3,342 at the start of 2006, security firm F-Secure says.
An infection usually starts when you visit a Web page implanted with a snippet of malicious coding. By simply navigating to the tainted page, your browser gets redirected, unseen, to a hub server that downloads the data-stealing program onto your hard drive.
Dozens of gangs specialize in banking trojans. They have it much easier than phishing scammers, who must lure victims into typing sensitive data on spoofed Web pages, says F-Secure researcher Patrik Runald.
"This is very organized crime," Runald says. "These gangs are hiring people and making tons of money."
The Coreflood Gang is among the most sophisticated. Stewart recently analyzed 500 gigabytes of stolen data stored on a rented hub server. He pinpointed 378,758 Coreflood infections inside thousands of organizations, small and large.
A workplace PC can get a new infection each time someone logs on. The most infections: a county school district with 31,425, a hotel chain with 14,093 and a health care company with 6,744. About 230 networks turned up with 50 or more Coreflood infections, while 35 networks each had 500 or more.
Gang members cull the stolen data for log-ons and account statements, especially bank accounts online with high balances. Next, they log into the accounts and make online cash transfers into "drop" accounts they control.
After having two hub servers shut down by the tech security community in May, the Coreflood Gang rented two new hubs and picked up where they left off. Today, they continue operations unimpeded, says Stewart.
Companies infiltrated by the Coreflood Gang need to rethink how they do network security. Employees surfing the Internet on work PCs ought to take pause. "If you don't understand the threats that are out there, then you probably should not be banking online," Stewart says.
Subscribe to:
Posts (Atom)
