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Corporate Account Take-Over and Securing your Internet Banking Site!
(Presented by Paul Carrubba and Dan Fisher)
Account takeover has become a significant problem for businesses and for financial institutions. Millions of dollars have been lost to organized crime rings that have taken over accounts and initiated unauthorized wire transfers and ACH Credit Originations.
  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |  |
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This Webinar will take an in-depth look at the problem, how it happens, what financial institutions have done, what the banking regulators have done, and how to protect your organization.
The Takeover
When an account is taken over, funds are transferred from the account and the financial institution's customer looks to the financial institution for a refund.
Things you need to do
If the financial institution has implemented commercially reasonable security procedures and has entered into agreements with the customer that contain the proper provisions, the financial institution can be successful in avoiding a substantial loss.
This webinar will address the following issues:
What is account takeover?
The history of account takeover
Why the criminals have been successful
Specific cases of account takeover and the outcome
How your organization and your customers can take steps to help prevent account takeover
Virus, trojans, time bombs and other harmful attacks
The importance of multifactor authentication
What qualifies as multifactor authentication?
What good are challenge questions?
Bank regulatory actions
The importance of customer agreements
Online banking agreement terms
Commercially reasonable security procedures
Consumer vs. business account takeover (Reg E implications)
UCC Article 4A and account takeover
Immediate actions that should be taken upon discovery of an account takeover
About the Speakers:
Paul Carrubba is an attorney with the law firm of Adams and Reese LLP. His primary focus is on Banking Law and legal issues dealing with payment system fraud. He is a member of the faculty of the Alabama School of Banking and the BAI's Graduate School of Bank Operations and Technology. Mr. Carrubba is the author of five books including: Revised UCC Article 3 and 4, A Banker's Guide to Checks and Principles of Banking.
Dan Fisher is President and CEO of The Copper River Group offers consulting and research services to the financial industry with an emphasis on payments systems, information and technology strategies for independent community banking organizations.
Dan has been in technology and banking for over 30 years. He has been a director of the Federal Reserve Bank of Minneapolis, Chairman of the ABA Payments Committee, a member of the ICBA Payments Committee and participated in the industry effort with the Federal Reserve that ultimately succeeded in the passage and implementation of the Check-21 legislation.
He has authored or co-authored six books and has written numerous articles and white papers on technology, operations and the payments system. His most recent book titled, Capturing Your Customer, focused solely on Remote Deposit Capture.
More information...
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888-229-8872