ABA Banking Journal - March 2013 - (Page 14)

ABA community banking PROTECTING BUSINESS CUSTOMERS Don’t let Trojans infiltrate customer cash management L A favored criminal plot can be foiled with faithful use of proven techniques ate on a Friday afternoon, the day after Christmas, a large commercial bank received a file of ACH credits from one of its commercial customers, submitted through the bank’s electronic banking system. The file totaled over $400,000. Then, the following Monday afternoon, a second file of ACH credits for almost $300,000 was received by the bank from the same commercial customer. The originator of the transactions had used the proper identification and password information, and both transactions were validated according to procedures established by the 14 | ABA BANKING JOURNAL | March 2013 bank, and, apparently, agreed upon with the customer. In this case, the bank, in addition to authenticating the user ID and password, used a sophisticated scoring model to validate the transactions. Both scored as valid, even though they were originated on days of the week that were different than such transactions were typically received from this customer; came from a different originating computer address; and were for amounts in total and individually. It wasn’t until late Tuesday afternoon that someone became aware that something was amiss. A gen- Photo: hiPProductions/ shutterstocK.com By Ken Proctor, ABound resources http://www.SHUTTERSTOCK.COM

Table of Contents for the Digital Edition of ABA Banking Journal - March 2013

ABA Banking Journal - March 2013
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
Don’t let Trojans infiltrate your customers
Pass the Aspirin
Tech Topics
Working smarter, harder, and right
Mobile Banking: 7 keys for success
Compliance Clinic
Compliance Inbox
ABA At Your Service
First Person

ABA Banking Journal - March 2013

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