Cyber Frontline - Level 3 - Module 2.pptx

Cyber Frontline - Level 3 - Module 2.pptx

1. Certified Banking Cybersecurity Frontline Professional – Level 3 instructor: Kevin F. Streff – Founder and managing partner American security and privacy, llc 1 1 Certified Cyber Frontline Professional American Security and Privacy, LLC

2. Dr. Kevin Streff American Security and Privacy, LLC Founder & Managing Partner www.americansecurityandprivacy.com [email protected] 605.270.4427

3. Agenda Cybersecurity Board Member Certification – level 3 3 Module Topic Module 1 Review Level 2 content Module 2 Understand accountholder and third-party security threats Module 3 Understand additional remote work cybersecurity best practices Module 4 Helping accountholders and cardholders understand safe computing practices 3 Certified Cyber Frontline Professional American Security and Privacy, LLC

4. Module 2 Understand accountholder and third-party security threats 4 Certified Cyber Frontline Professional American Security and Privacy, LLC

5. Accountholder Threats 5 Certified Cyber Frontline Professional American Security and Privacy, LLC

6. Certified Cyber Frontline Professional 6

7. Accountholder and Cardholder Threats Identity Fraud Identity Theft Credit Card Fraud ATM Fraud Corporate Account Takeover Certified Cyber Frontline Professional 7

8. A single transaction of fraud Can involve stealing a driver’s license, SSN, address, etc. Examples: withdraw a large balance, change an address Identity Fraud 8 Certified Cyber Frontline Professional

9. Identity Theft Someone has assumed an identity Examples: apply for a loan, submit an insurance claim, submit a tax return, apply for a credit card Certified Cyber Frontline Professional 9

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11. ATM Fraud Any criminal activity involving an automated teller machine to steal account details or money from the consumer An ATM is a computer like the one you use, but does very specific functions Criminal activity Card skimming – steal card information Card poppers – steal the card Shoulder surfing – steal the PIN Unauthorized Cameras – steal the PIN Fake keypads – steal the card information and PIN Card cloning – creating fake cards Cash popping – traps the money Certified Cyber Frontline Professional 11

12. Card Fraud Lost or stolen cards Might ask for a replacement card to be sent to a new address Counterfeit cards – card cloning Stealing preapproved card offers Cards can be purchased on the dark web Certified Cyber Frontline Professional 12

13. What is Business Account Takeover? “Corporate Account Takeover” is when cyber criminals gain control of a business ’ banking account by stealing the business’ valid login credentials. There are several methods employed to steal credentials, the most prevalent involves malware that infects a business computer desktop or laptop. Business/Commercial accounts do not have the same legal protections afforded to consumer accounts (Reg E) 8/30/2012 13

14. 2023 Faces of Fraud Report 8/30/2012 14

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16. Requiring Originators and Third‐Party Senders to incorporate  minimum levels of security on  their internal computer networks Recommending dual control for payment file initiation Authenticating payment requests or changes to payment instructions, and independently verify  request/change using out  of band authentication methods such as call backs or email or  text  confirmations  Encouraging the use of value‐added services like positive‐pay,  debit blocks, and tokens to  enhance account security Educating business clients and consumers on prevention,  detection and reporting measures;  encouraging daily review of  accounts  Having procedures to ensure corporate accounts meet minimum security standards Reviewing procedures for identifying money mules  Best Practices 17 Certified Cyber Frontline Professional

17. Vendor Threats 18 Certified Cyber Frontline Professional American Security and Privacy, LLC

18. Many of the breaches involve vendors Financial institution has a third-party management program (i.e., vendor management program) Due diligence in selecting vendors Due diligence after vendor selection Report systems lacking security Report poor processes at the vendor Report concerns with employees Vendor Management 19 Certified Cyber Frontline Professional

19. Frontline staff must work to protect by accountholders and vendors Report any concerns at management or your Information Security Officer 20 Certified Cyber Frontline Professional American Security and Privacy, LLC

20. Dr. Kevin Streff 21 Certified Cyber Frontline Professional American Security and Privacy, LLC American Security and Privacy, LLC Founder & Managing Partner www.americansecurityandprivacy.com [email protected] 605.270.4427 www.drstreff.com