The Mutation of Threats Against Corporate Online Banking Customers

April 16, 2010 06:03 AM Eastern Daylight Time  

Research and Markets: The Mutation of Threats against Corporate Online Banking Customers

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f86405/the_mutation_of_th) has announced the addition of the "The Mutation of Threats against Corporate Online Banking Customers" report to their offering.

“The Mutation of Threats against Corporate Online Banking Customers”

The number of attacks targeting companies has increased over several years to reach an unprecedented level in 2009. Modus operandi have evolved: payment systems for professionals are more and more targeted and associated prejudices reach hundreds of thousands of Euros.

This report shall examine the specific risks impacting business banking clientele - risks that often have direct or indirect repercussions on the banking institution as well.

Indeed, over the past two years, cybercrooks have substantially innovated in terms of business fraud, combining traditional scams with increasingly numerous technical means (particularly with the help of targeted Trojans). Todays targeted scams are a subtle weaving of social engineering and technical intrusion, with the aim of confiscating company trade secrets or, more often than not, draining company bank accounts. The latest developments concerning payment systems (the ACH Network, the SEPA area) have also created significant windows of opportunity for hackers.

In this report, we shall also take another look at the stock spam phenomenon that seems to have lost steam over the past few years. Nonetheless, certain evidence leads us to believe that this type of spam could develop in the near future into considerably more cunning and highly targeted forms.

Our recommendation to banks is to adapt business banking management to the level of risk that this clientele represents: first, by providing special training to staff dealing with business clientele, and second, by tuning authentication methods and fraud detection systems to the level of banking transactions carried out by businesses.

Key Topics Covered:

1. Distinctions from individual customers

2. Means of payment theft

3. New forms of fraud

4. Other specific risk

5. Recommendations

For more information visit http://www.researchandmarkets.com/research/f86405/the_mutation_of_th

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Permalink: http://www.businesswire.com/news/home/20100416005324/en/Research-Markets-Mutation-Threats-Corporate-Online-Banking

The Mutation of Threats Against Corporate Online Banking Customers

April 16, 2010 06:03 AM Eastern Daylight Time  

Research and Markets: The Mutation of Threats against Corporate Online Banking Customers

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f86405/the_mutation_of_th) has announced the addition of the "The Mutation of Threats against Corporate Online Banking Customers" report to their offering.

“The Mutation of Threats against Corporate Online Banking Customers”

The number of attacks targeting companies has increased over several years to reach an unprecedented level in 2009. Modus operandi have evolved: payment systems for professionals are more and more targeted and associated prejudices reach hundreds of thousands of Euros.

This report shall examine the specific risks impacting business banking clientele - risks that often have direct or indirect repercussions on the banking institution as well.

Indeed, over the past two years, cybercrooks have substantially innovated in terms of business fraud, combining traditional scams with increasingly numerous technical means (particularly with the help of targeted Trojans). Todays targeted scams are a subtle weaving of social engineering and technical intrusion, with the aim of confiscating company trade secrets or, more often than not, draining company bank accounts. The latest developments concerning payment systems (the ACH Network, the SEPA area) have also created significant windows of opportunity for hackers.

In this report, we shall also take another look at the stock spam phenomenon that seems to have lost steam over the past few years. Nonetheless, certain evidence leads us to believe that this type of spam could develop in the near future into considerably more cunning and highly targeted forms.

Our recommendation to banks is to adapt business banking management to the level of risk that this clientele represents: first, by providing special training to staff dealing with business clientele, and second, by tuning authentication methods and fraud detection systems to the level of banking transactions carried out by businesses.

Key Topics Covered:

1. Distinctions from individual customers

2. Means of payment theft

3. New forms of fraud

4. Other specific risk

5. Recommendations

For more information visit http://www.researchandmarkets.com/research/f86405/the_mutation_of_th

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Permalink: http://www.businesswire.com/news/home/20100416005324/en/Research-Markets-Mutation-Threats-Corporate-Online-Banking

Visa "Zero-ing In" on Liability

Zero Liability Helps Protect Canadian Visa Business Cards

Additional fraud protection adds value for Canadian small businesses

Visa Inc. (NYSE: V) announced today in Canada an important expansion of its Zero Liability program, which will now include Visa Business cards issued by Canadian financial institutions. The move can help better protect Visa Business cardholders from losses due to fraudulent transactions.

In a consumer survey(i) of more than one thousand Canadian Visa cardholders, 80 percent of respondents indicated they were extremely or very interested in having Zero Liability protection on their Visa card, with 30 percent ranking Zero Liability as the most appealing feature.

"Visa Business cards offer many benefits to small business owners in Canada and the addition of Zero Liability is another reason for them to use a Visa card with confidence," said Kareem Chouli, Head of Commercial Solutions in Canada, Visa Inc. "Security is a priority for Visa, and the Zero Liability policy is an important layer of our fraud prevention efforts."

Visa's Zero Liability policy protects business cardholders against fraud exactly the same way as it protects personal cardholders. Zero Liability means that business cardholders who have been victims of credit card fraud, including unauthorized transactions made via telephone or on the internet, do not pay for fraudulent transactions. Zero Liability does not apply to transactions with Visa Corporate or Visa Purchasing cards.

Personal Visa cardholders, including those who have been issued a Visa chip and PIN card, from Canadian-issued financial institutions will continue to be protected by the Zero Liability policy. All Visa cardholders must comply with the terms of their cardholder agreement including protecting their PIN where applicable.

With Visa Business cards, small businesses can conveniently manage their finances by separating business and personal spending, and tracking and analyzing expenses online. Online resources at visa.ca/smallbusiness include free business tools and guides, articles, as well as information about the Visa Savings for Business program - offering exclusive discounts to Canadian Visa Business cardholders.

Source: Press Release

Related articles by Zemanta

• Signature Debit Wrestles Fraud, Get's PIN'd
• Credit card costs soar for hard-hit consumers
• Visa, MasterCard fee hikes suggest price fixing: business group
• Chipping Away at Credit Card Fraud