Cybercriminals are targeting small businesses with increasingly sophisticated attacks. “Corporate account takeover” is a form of identity theft of a business. Criminals phony emails pretending to be someone you know to trick you into clicking on links or attachments that can lead to malicious software being installed on your computer. Once this happens, they will ask you to enter credentials where they will gain access to your email account. At that point, they will send emails to the bank appearing to be from you to initiate ACH and wire transactions.
Combating corporate account takeover is a shared responsibility between businesses and the bank. Bankers have many safeguards to protect small businesses, but the business needs to do its part to help combat these crimes. Your business should train employees to recognize the warning signs of this fraud, because they are the first line of defense.
Small businesses are popular targets of cybercrime. Business owners are encouraged to minimize their exposure to online threats by educating all of their employees and staying alert for any account or network activity that appears suspicious.
Crews Bank & Trust is offering small businesses these tips to help prevent corporate account takeover:
Margo Leiter is a resident DeSoto County, where she began her banking career in 1981 at Crews Bank & Trust, formerly known as the First State Bank of Arcadia. In 2008, she took on the role of the Chief Information Security Officer for the Crews Banking Corporation holding company, which includes Wauchula State Bank, Charlotte State Bank & Trust, Englewood Bank & Trust and Crews Bank & Trust. She subsequently became a Certified Information Security Manager (CISM), overseeing management of the company’s Information Security Program to ensure sensitive customer information is safe and secure. In her personal life she enjoys shopping, traveling with her husband, and spending quality time with her children, grandchildren and church family.