- Integrate 5 best practices (passwords, software, remote access, education, networks) into your process to maintain a higher level of protection and help minimize card breaches in an organization
- Adopt a multi-layered risk management approach that focuses on new technologies and industry-wide solutions like PCI-DSS
Evidence of increased fraudulent activities is becoming a heightened issue for both companies and banks. We are in an environment where companies will have to adopt a disciplined approach to risk monitoring.
Senior Vice President, Technology & Operations
Shared Vulnerabilities: Fraud is a growing threat to both businesses and their customers. Payment fraud, one of today’s most prevalent schemes, involves attempts by outsiders to hack into business email systems. A successful
Rising Stakes: Despite several recent high-profile fraud attacks, only 18% of companies view data security as a threat to earnings. But, fraud losses can be devastating. Hackers can steal companies’ financial assets and intellectual property, along with sensitive customer data – eroding profits and trust.
Education and Upgrades: Educating employees is the first line of defense. “Phishing”, “spoofing” and other fraud types are often preventable, if monitored properly. In addition, upgrading IT systems can reduce risk while boosting
DATA BREACHES: STRATEGIES FOR KEEPING ASSETS SAFE
Data breaches are constantly in the news and can be very expensive for an organization. Recent high profile cases show that no organization is immune, especially as criminals develop more sophisticated ways to exploit vulnerabilities. According to the 2015 AFP Risk Survey, 1 out of 3 companies have been targets of cyber attack over the past 18 months. This warrants a closer look at how to recognize a data breach and best practices to minimize the risk.
Identify potentially fraudulent transactions before they impact your accounts with Positive Pay*. Items that do not match your check issue file are reported online as exceptions. Stay in control by deciding to pay or return the items upon your direction.
For stronger oversight, you can integrate your check issue information into our banking center teller system through Teller Positive Pay*—and compares payee information on your checks to those on your issue file with Payee Positive Pay*.
Protect against ACH fraud with ACH Positive Pay*, which alerts you to potentially fraudulent transactions before they hit your accounts. Unauthorized transactions are reported online throughout banking days, and you can choose to pay or return the items at your convenience. You can also choose to block all transactions, or authorize ACH actions only for select counterparties.
Reduce check fraud and take control of employee spending while increasing efficiencies with our wide-ranging card solutions.
Receive timely account-activity reminders and alerts with CashPro® Notifications. Simply designate the accounts on which you want to receive information, plus the types of messages you wish to receive and whether you prefer email, voicemail, fax or text messages.
Some eligible transaction types include outgoing and incoming wire transfers, opening balance amounts, Positive Pay exception items, and investments that are scheduled to mature.
*All services may not be available in all jurisdictions and are subject to change without notice.