ATM security has been in the news recently, so now is a good time to take stock of the security measures you have in place to protect the machine against fraud and theft, as well as protect customers who are using it. Whether your ATM is located inside or outside your bank, consider these safety measures for added protection.
Phishing emails are nothing new to the banking industry. Consumers falling victim to phony emails purporting to be from their bank is a common occurrence. Now, thieves are getting more creative by targeting bank employees rather than customers. Everyone receives many emails every day, and unfortunately, we are not able to take the time to thoroughly examine every one that we receive, especially if we believe that it is from an internal source. Because of this, employees are often mistakenly providing sensitive information to criminals without even realizing it. However, there is something banks can do to add an additional layer of protection.
While fall brings a slight chill in the air, cyber security initiatives are heating up! Throughout October, many businesses recognize National Cyber Security Awareness Month by enhancing their policies and procedures. To help banks in this process, we are zeroing in on a costly threat: wire transfer fraud. Recently, there's been a spike in wire fraud losses involving the hijacking of customers' phone lines. This article details how these real-world situations occurred and offers risk management tips.