Details
May 9, 2016
12:00PM - 1:00PM
Free Lunch & Learn Webinar Sponsored by WACHA
Business Email Compromises: Evolution in CATO Attacks
Webinar
Order in lunch and gather around for this FREE webinar to learn about hot topics in payments and the related tools PAR/WACHA has available to help you. Oh… and don’t forget to pick up a full AAP continued education credit for the session! WACHA Members and Nonmembers Welcome.
Topic: Business Email Compromises: Evolution in CATO Attacks
While computer based compromises related to Corporate Account Takeover are still a progressive and increasing threat, cybercriminals are working hard to master email based compromises. Where instead of attempting to infect a computer to manipulate funds transfers mechanisms, criminals compromise an email account and convince businesses to initial similar transfers using social engineering techniques. In a recent FBI alert, they warned about a “dramatic” increase in this threat, called Business Email Compromises “BEC” or also “CEO Fraud”. The FBI states that this emerging global threat has an average loss of $130,000 per affected business and the bureau had tracked a 270% increase in identified victims totaling $2.3 billion over the last 3 years.
To address CATO attacks such as this, the FFIEC provides guidance for financial institutions regarding the risk assessment process, identifying layered controls, and bring awareness and educational resources to customers. In this webinar we will review how Corporate Account Takeover works and discuss achieving FFIEC compliance with specific examples on:
- How to identify highest risk customers
- How to educate business customers
- Creating process efficiencies in risk management
Bio Chad Knutson:
Chad Knutson is a Senior Information Security Consultant and serves as President of the SBS Institute for Secure Banking Solutions (SBS) out of Madison, SD. SBS is a leader in information security consulting for the financial industry in the US. SBS works with more than 900 banks around the country on information security services such as the development of Information Security Programs, Policies, and Risk Assessments, along with performing IT Audits, Penetration Tests, Vulnerability Assessment and other security services. Chad is a Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC), and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University. Chad has been with SBS since 2004 and has consulted with many financial institutions during this time.
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05/09/2016 12:00 PM
05/09/2016 01:00 PM
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Free Lunch & Learn Webinar Sponsored by WACHA
Order in lunch and gather around for this FREE webinar to learn about hot topics in payments and the related tools PAR/WACHA has available to help you. Oh… and don’t forget to pick up a full AAP continued education credit for the session! WACHA Members and Nonmembers Welcome.
Topic: Business Email Compromises: Evolution in CATO Attacks
While computer based compromises related to Corporate Account Takeover are still a progressive and increasing threat, cybercriminals are working hard to master email based compromises. Where instead of attempting to infect a computer to manipulate funds transfers mechanisms, criminals compromise an email account and convince businesses to initial similar transfers using social engineering techniques. In a recent FBI alert, they warned about a “dramatic” increase in this threat, called Business Email Compromises “BEC” or also “CEO Fraud”. The FBI states that this emerging global threat has an average loss of $130,000 per affected business and the bureau had tracked a 270% increase in identified victims totaling $2.3 billion over the last 3 years.
To address CATO attacks such as this, the FFIEC provides guidance for financial institutions regarding the risk assessment process, identifying layered controls, and bring awareness and educational resources to customers. In this webinar we will review how Corporate Account Takeover works and discuss achieving FFIEC compliance with specific examples on:
How to identify highest risk customers
How to educate business customers
Creating process efficiencies in risk management
Bio Chad Knutson:
Chad Knutson is a Senior Information Security Consultant and serves as President of the SBS Institute for Secure Banking Solutions (SBS) out of Madison, SD. SBS is a leader in information security consulting for the financial industry in the US. SBS works with more than 900 banks around the country on information security services such as the development of Information Security Programs, Policies, and Risk Assessments, along with performing IT Audits, Penetration Tests, Vulnerability Assessment and other security services. Chad is a Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC), and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University. Chad has been with SBS since 2004 and has consulted with many financial institutions during this time.
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