What’s top of mind for community bank risk managers in 2021? Kristina Schaefer provides an overview of what’s on her radar screen as chief risk officer and general counsel at First Bank and Trust.
Browsing: Social engineering
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
According to a recent survey of community bankers, cybersecurity was the highest-rated risk concern, with over 96% of community bank CEOs reporting that they considered it an important or very important risk factor for their bank.
Imposter attacks against financial services organizations rose by 60% from the end of 2017 to the end of 2018, according to a report released today by cybersecurity firm Proofpoint.
Social engineering wire transfer scams cost U.S. businesses nearly $1.6 billion between October 2013 and December 2016, according to figures from the FBI’s Internet Crime Complaint Center yesterday.
With email compromise schemes — in which criminals fraudulently persuade individuals and companies to transfer funds — on the rise, the Financial Crimes Enforcement Network issued an advisory to financial institutions today to help them identify and prevent these frauds.
The FBI yesterday issued a notification warning companies of the ongoing threat of business email compromise scams that caused losses of nearly $76 million between December 2015 and March 2016.
In response to recent high-profile compromised communications sent through the SWIFT communications network, ABA — together with the Financial Services Information Sharing and Analysis Center and other financial groups — today issued a statement with insight and analysis on the incidents, as well as recommendations for mitigating cyber risks.
The FBI on Tuesday released an updated public service announcement to provide new information and statistical data related to business email compromise scams.