02 Mar What to do if you experience fraud
Cybercriminals are targeting the financial accounts of owners and employees of small and medium sized businesses, resulting in significant business disruption and substantial monetary losses due to fraudulent transfers from these accounts.
To obtain access to financial accounts, cybercriminals target employees– often senior executives, accounting and HR personnel, and business partners. They then cause the targeted individual to spread malicious software (or malware), which, in turn, steals their personal information and log-in credentials, and eventually steals money from business accounts.
If you detect suspicious activity, there are a number of actions you need to take:
- Recognize the signs of malware
- STOP, unplug the machine and contact your bank immediately
- Follow procedures to report suspicious activity at your company
- Immediately contact your financial institution so that the following actions may be taken:
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- Disable online access to your accounts
- Change online banking passwords
- Open new accounts as appropriate
- Review all recent transactions and cancel unauthorized transactions
- Look for new payees, address or phone number changes, new user accounts, changes to existing user accounts, changes to wire/ACH templates, PIN changes, or orders for new checks or other account documents
- Document the chronology of the events surrounding the loss
- File a police report; for substantial losses contact the FBI (http://www.fbi.gov/contact-us/field/field-offices)
- Contact your insurance company
- Have a contingency plan to recover compromised systems
- Contact a forensic IT professional to locate and remove sophisticated malware
- Consider whether other data may have been compromised
- Incorporate “lessons learned” in future employee fraud training
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