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Corporate Account Takeover - Latest Cases
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 Export to Your Calendar 7/13/2017
When: 12:30 PM
Where: United States

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Program Content:

Corporate Account Takeovers (CATO) have a significant impact on financial institutions and losses continue to increase. Approaches used by cybercriminals are advancing with new malware tools or new fraud such as Business Email Compromise. In most of these situations, customers are left with a large loss on their books and turn to legal action against their financial institution to settle. Most of these cases are settling out of court, but we have a handful of court cases that have come to conclusions on who will be liable for the losses. We will review each of these cases, important considerations, and the outcome for the financial institution. Besides ruling on these cases, we need to examine the reputational damage created with the customer and within the community. The best situation for community banks is to reduce the impact and probability of a CATO happening in the first place.

Covered Topics:
      • How CATO works
      • Recent Case Studies
      • Prevention - reduce likelihood of fraud
      • Detection - manual and automated methods
      • Response - timely steps to address losses
      • Educational solutions to reduce risk

Who Should Attend:
Information Security Officer, IT Manager, Risk Officer, Internal Auditor, and Executives looking to understand the risk around Corporate Account Takeover.

Presenter:
Chad Knutson is a Senior Information Security Consultant and serves as President of the SBS CyberSecurity out of Madison, SD. SBS is a leader in information security consulting for the financial industry in the US. SBS works with more than 900 banks around the country on information security services such as the development of Information Security Programs, Policies, and Risk Assessments, along with performing IT Audits, Penetration Tests, Vulnerability Assessment and other security services. Chad is a Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA) and Certified in Risk and Information Security Controls (CRISC), and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University. Chad has been with SBS since 2004 and has consulted with many financial institutions during this time.


 

 

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