Cyber Attackers Empty Business Accounts In Minutes-Books Pdf

Cyber attackers empty business accounts in minutes
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malicious software or malware which in turn steals their personal information and log in. credentials Once the account is compromised the cyber criminal is able to electronically steal. money from business accounts Cyber criminals also use various attack methods to exploit check. archiving and verification services that enable them to issue counterfeit checks impersonate the. customer over the phone to arrange funds transfers mimic legitimate communication from the. financial institution to verify transactions create unauthorized wire transfers and ACH payments or. initiate other changes to the account In addition to targeting account information cyber criminals. also seek to gain customer lists and or proprietary information often through the spread of. malware that can also cause indirect losses and reputational damage to a business. First identified in 2006 this fraud known as corporate account take over has morphed in terms. of the types of companies targeted and the technologies and techniques employed by cyber. criminals Where cyber criminals once attacked mostly large corporations they have now begun to. target municipalities smaller businesses and non profit organizations Thousands of businesses. small and large have reportedly fallen victim to this type of fraud Educating all stakeholders. financial institutions businesses and consumers on how to identify and protect themselves against. this activity is the first step to combating cyber criminal activity. This advisory was created by financial institutions industry trade associations Federal law. enforcement and regulatory agencies 4 It is intended to make businesses aware of this issue identify. some examples of how the fraud may occur and provide updated recommendations to businesses to. protect themselves against it The information contained in this advisory is intended to provide. basic guidance and resources for businesses to learn about the evolving threats and to establish. security processes specific to their needs However it is very important to note that as the cyber. criminals change their techniques businesses must continue to improve their knowledge of and. security posture against these attacks In addition the tips and recommendations contained in this. advisory may help reduce the likelihood of fraud but they should not be expected to provide. complete protection against these attacks,How it s Done. Cyber criminals employ various technological and non technological methods to manipulate or trick. victims into divulging personal or account information Such techniques may include performing an. action such as opening an email attachment accepting a fake friend request on a social networking. site or visiting a legitimate yet compromised website that installs malware on their computer s. 3 Business partners can include among other third parties contractors and accountants. 4 This advisory was created through a collaborative cross industry effort to develop and distribute recommended. practices to prevent detect and respond to corporate and consumer account takeovers Led by the Financial Services. Information Sharing and Analysis Center FS ISAC contributors include more than 30 of the largest financial. institutions in the U S industry associations including the American Bankers Association ABA NACHA The. Electronic Payments Association BITS The Financial Services Roundtable and federal regulatory and law enforcement. agencies This advisory is an update to recommendations previously released in August 2009 by the FS ISAC FBI and. NACHA and NACHA Operations Bulletin in December 2009. Criminals target victims by,Dissecting an Attack way of phishing spear. phishing or social,engineering techniques,The criminals leverage the. victim s online banking The victims unknowingly, credentials to initiate a funds Target install malware on their. transfer from the victim s Victims computers often including. account key logging and screen shot,capabilities,Funds Account.
Transfer s Malware,Dissecting,The victims visit their online. Collect banking website and logon,Transmit per the standard process. The malware collects and Data Banking,transmits data back to the. criminals through a back door,connection,Figure 2 Dissecting An Account Take Over Attack. Cyber criminals will often phish for victims using mass emails pop up messages that appear on. their computers and or the use of social networking and internet career sites 5 For example cyber. criminals often send employees unsolicited emails that. Ask for personal or account information, Direct the employee to click on a malicious link provided in the email and or.
Contain attachments that are infected with malware. Cyber criminals use various methods to trick employees into opening the attachment or clicking on. the link including, Disguising the email to look as though it s from a legitimate business Often these criminals. will employ some type of scare tactic to entice the employee to open the email and or. provide account information For example cyber criminals have sent emails claiming to be. 1 UPS e g There has been a problem with your shipment. 2 Financial institutions e g There is a problem with your banking account. 3 Better Business Bureaus e g A complaint has been filed against you. 4 Court systems e g You have been served a subpoena. Making the email appear to provide information regarding current events such as natural. disasters major sporting events and celebrity news to entice people to open emails and click. 5 Cyber criminals also use vishing which is soliciting victims over the phone or Voice over IP VoIP. Using email addresses or other credentials stolen from company websites or victims such as. relatives co workers friends or executives and designing an email to look like it is from a. trusted source to entice people to open emails and click on links. The cyber criminal s goal is to get the employee to open the infected attachments or click on the link. contained in the email and visit the nefarious website where hidden malware is often downloaded to. the employee s computer This malware allows the fraudster to see and track employee s activities. across the business internal network and on the Internet This tracking may include visits to your. financial institution and use of your online banking credentials used to access accounts account. information log in and passwords Using this information the fraudster can conduct unauthorized. transactions that appear to be a legitimate transaction conducted by the company or employee. How to Protect Detect and Respond,1 Educate everyone on this type of fraud scheme. Don t respond to or open attachments or click on links in unsolicited e mails If a. message appears to be from your financial institution and requests account. information do not use any of the links provided Contact the financial institution. using the information provided upon account opening to determine if any action is. needed Financial institutions do not send customers e mails asking for passwords. credit card numbers or other sensitive information Similarly if you receive an email. from an apparent legitimate source such as the IRS Better Business Bureau Federal. courts UPS etc contact the sender directly through other means to verify the. authenticity Be very wary of unsolicited or undesired email messages also known as. spam and the links contained in them, Be wary of pop up messages claiming your machine is infected and offering software. to scan and fix the problem as it could actually be malicious software that allows the. fraudster to remotely access and control your computer. Teach and require best practices for IT security See 2 Enhance the security of. your computer and networks, 2 Enhance the security of your computer and networks to protect against this fraud 6. Minimize the number of and restrict the functions for computer workstations and. laptops that are used for online banking and payments A workstation used for. online banking should not be used for general web browsing e mailing and social. networking Conduct online banking and payments activity from at least one. dedicated computer that is not used for other online activity. Do not leave computers with administrative privileges and or computers with. monetary functions unattended Log turn off and lock up computers when not in. Use install and maintain spam filters, 6See the Resources section for links to helpful and detailed tips on how to enhance your information technology IT.
Install and maintain real time anti virus and anti spyware desktop firewall and. malware detection and removal software, Use these tools regularly to scan your computer Allow for automatic updates. and scheduled scans, Install routers and firewalls to prevent unauthorized access to your computer or. Change the default passwords on all network devices. Install security updates to operating systems and all applications as they become. available These updates may appear as weekly monthly or even daily for zero day. Block pop ups, As recommended by Microsoft for users more concerned about security many. variants of malware can be defeated by using simple configuration settings like. enabling Microsoft Windows XP 7 Vista 8 and 7 Data Execution Prevention DEP 9. and disabling auto run commands 10 You may also consider disabling JavaScript in. Adobe Reader 11 If these settings do not interfere with your normal business. functions it is recommended that these and other product settings be considered to. protect against current and new malware for which security patches may not be. Keep operating systems browsers and all other software and hardware up to date. Make regular backup copies of system files and work files. Encrypt sensitive folders with the operating system s native encryption capabilities. Preferably use a whole disk encryption solution, Do not use public Internet access points e g Internet cafes public wi fi hotspots. airports etc to access accounts or personal information If using such an access. point employ a Virtual Private Network VPN 12, Keep abreast of the continuous cyber threats that occur See the Additional.
Resources section for recommendations on sites to bookmark. 3 Enhance the security of your corporate banking processes and protocols. Initiate ACH and wire transfer payments under dual control using two separate. computers For example one person authorizes the creation of the payment file and. a second person authorizes the release of the file from a different computer system. This helps ensure that one person does not have the access authority to perform. both functions add additional authority or create a new user ID. 7 How to configure memory protection in Windows XP SP2 http technet microsoft com en. us library cc700810 aspx, 8 Change Data Execution Prevention Settings http windows microsoft com en US windows vista Change Data. Execution Prevention settings, 9 Change Data Execution Prevention Settings http windows microsoft com en US windows7 Change Data. Execution Prevention settings, 10 How to disable the Autorun functionality in Windows http support microsoft com kb 967715. 11 Disabling JavaScript in Adobe Reader and Acrobat. http blogs adobe com psirt 2009 04 update on adobe reader issue html. 12 A VPN uses the public telecommunication infrastructure and the Internet to provide remote and secure access to an. organization s network, Talk to your financial institution about Positive Pay and other services such as SMS. texting call backs and batch limits which help to protect companies against altered. checks counterfeit check fraud and unauthorized ACH transactions. If when logging into your account you encounter a message that the system is. unavailable contact your financial institution immediately. 4 Understand your responsibilities and liabilities. Familiarize yourself with your institution s account agreement Also be aware of. your liability for fraud under the agreement and the Uniform Commercial Code. UCC as adopted in the jurisdiction as well as for your responsibilities set forth by. the Payment Card Industry Data Security Standard PCI DSS should you accept. credit cards For more information see, https www pcisecuritystandards org security standards pci dss shtml.
5 Monitor and reconcile accounts at least once a day. Reviewing accounts regularly enhances the ability to quickly detect unauthorized. activity and allows the business and the financial institution to take action to prevent. or minimize losses, 6 Discuss the options offered by your financial institution to help detect or prevent out. of pattern activity including both routine and red flag reporting for transaction. 7 Note any changes in the performance of your computer such as. A dramatic loss of speed,Changes in the way things appear. Computer locks up so the user is unable to perform any functions. Unexpected rebooting or restarting of your computer. An unexpected request for a one time password or token in the middle of an online. Unusual pop up messages,New or unexpected toolbars and or icons. Inability to shut down or restart,8 Pay attention to warnings. Your anti virus software should alert you to potential viruses If you receive a. warning message contact your IT professional immediately. 9 Be on the alert for rogue emails, If someone says they received an email from you that you.
credit card numbers or other sensitive information Similarly if you receive an email from an apparent legitimate source such as the IRS Better Business Bureau Federal courts UPS etc contact the sender directly through other means to verify the authenticity Be very wary of unsolicited or undesired email messages also known as

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