How does Corporate Account Takeover work?

Criminals target victims by scams

Victim unknowingly installs software by clicking on a link or visiting an infected Internet site.

Fraudsters began monitoring the accounts
Victim logs on to their Online Banking

Fraudsters Collect Login Credentials

Fraudsters wait for the right time and then depending on your controls – they login after hours or if you are utilizing a token they wait until you enter your code and then they hijack the session and send you a message that Online Banking is temporarily unavailable.

Where does Corporate Account Takeover come from?

Malicious websites (including Social Networking sites)

Email

P2P Downloads (e.g. LimeWire)

Ads from popular web sites

Web-borne infections: According to researchers in the first quarter of 2011, 76% of web resources used to spread malicious programs were found in 5 countries worldwide: United States, Russian Federation, Netherlands, China, & Ukraine.

What is Malware?

Short for malicious software, is software designed to infiltrate a computer system without the owner's informed consent.

Malware includes computer viruses, worms, trojan horses, spyware, dishonest adware, crimeware, most rootkits, and other malicious and unwanted software.

What is Rogue Software?

Form of malware that deceives or misleads users into paying for the fake or simulated removal of malware.

Has become a growing and serious security threat in desktop computing.
Mainly relies on social engineering in order to defeat the security software.

Most have a Trojan Horse component, which users are misled into installing.

Browser plug-in (typically toolbar)
Image, screensaver or ZIP file attached to an e-mail

Multimedia code required to play a video clip

Software shared on peer-to-peer networks

A free online malware scanning service

What is Phishing?

Criminally fraudulent process of attempting to acquire sensitive information (usernames, passwords, credit card details) by masquerading as a trustworthy entity in an electronic communication.

Commonly used means:

Social web sites
Auction sites
Online payment processors
IT administrators
Email Usage

What may be relied upon today as an indication that an email is authentic may become unreliable as electronic crimes evolve.

This is why it is important to stay abreast of changing security trends.

Some experts feel e-mail is the biggest security threat of all.

It is the fastest, most-effective method of spreading malicious code to the largest number of users.