Your cyber privacy and protection are important to Citizens National Bank. We employ complex security measures to protect all of our customers from unwanted cyber attacks. Part of our commitment to protect our customers includes education for cyber security.
With the increase in banking technology, criminals are now engaging in Corporate Account Takeover (CATO). According to the Conference of State Bank Supervisors, “Corporate Account Takeover is an evolving electronic crime typically involving the exploitation of businesses of all sizes, especially those with limited to no computer safeguards and minimal or no disbursement controls for use with their bank’s online business banking system.”
Did you know that perpetrators often monitor the customer’s email messages and other activities for days, weeks, or even months before perpetrating the crime? Another unknown fact is that corporate customers are most vulnerable just before a holiday when key employees are on vacation. These are just a few examples of how cyber criminals operate, which is why education plays a pivotal role in protecting yourself from cyber attacks.
If you feel like a cyber criminal compromised your corporate account, then please call Citizens National Bank at (318) 741-3500. Some warning signs that a cyber criminal compromised your computer system include:
- Inability to log into online banking (thieves could be blocking access so that you would not see the theft until the criminal has control of the money).
- Sudden and dramatic loss of computer speed.
- Changes in the way things appear on the screen.
- Computer locks up so the user is unable to perform any functions.
- Unexpected rebooting or restarting of computer.
- Unexpected request for a one-time password (or token) in the middle of an online session.
- Unusual pop-up messages, especially a message in the middle of a session that says the connection to the bank system is not working (system unavailable, down for maintenance, etc.).
- New or unexpected toolbars and/or icons.
- Inability to shut down or restart the computer.
In addition to the items mentioned above, CNB recommends our corporate customers develop an incident response plan. A strong incident response plan should include:
- The direct contact numbers of key bank employees. CNB’s telephone number for reporting an online account take over is (318) 741-3500.
- Steps the account holder should consider to limit further unauthorized transactions, such as: a. Changing passwords
b. Disconnecting computers used for Internet banking
c. Requesting a temporary hold on all other transactions until out-of-band confirmations can be made
- Information the account holder will provide to assist the bank in recovering their money.
- Contacting their insurance carrier.
- Working with computer forensics specialists and law enforcement to review appropriate equipment.
CNB also advises our corporate customers to perform a risk assessment regarding online payment services.
Below is a list of resources for further education on Corporate Account Takeovers:
- The Better Business Bureau’s website on Data Security Made Simpler:http://bbb.org/data-security
- The Small Business Administration’s (SBA) website on Cybersecurity:https://www.sba.gov/managing-business/cybersecurity
- The Federal Trade Commission’s (FTC) business guide to security:https://www.ftc.gov/tips-advice/business-center/guidance/start-security-guide-business
- The National Institute of Standards and Technology’s (NIST) Fundamentals of Information Security for Small Businesses:http://csrc.nist.gov/publications/nistir/ir7621/nistir-7621.pdf
- The jointly issued “Fraud Advisory for Businesses: Corporate Account Takeover” from the U.S. Secret Service, FBI, IC3, and FS-ISAC available on the IC3 website (http://ic3.gov/media/2010/CorporateAccountTakeOver.pdf
- NACHA – The Electronic Payments Association’s website has numerous articles regarding Corporate Account Takeover for both financial institutions and banking customers:http://nacha.org/c/Corporate_Account_Takeover_Resource_Center.cfm
- The Conference of State Bank Supervisors Best Practices for Reducing the Risks of Corporate Account Takeovers:http://csbs.org/ec/cato/Pages/catorecom.aspx
Download our brochure on
Corporate Account Takeover:
CNB remains committed to your cyber protection as the bank continues to invest in new banking technology. While thieves continue to seek out ways to find victims, CNB continues to stay on the forefront of cyber security so that our customers can take comfort in knowing their bank cares.