What every consumer should know

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Presentation transcript:

What every consumer should know CYBERCRIME PROTECTION What every consumer should know

CHARLES MCBREEN MEMBERS1ST FEDERAL CREDIT UNION PRESENTED BY CHARLES MCBREEN MEMBERS1ST FEDERAL CREDIT UNION

INVASION OF THE IDENTITY SNATCHERS PA 203 578 6724 ACCT: 7796521 #55-587-9963-1142 201-86-7488 They are coming for YOU!

WHAT IS CYBERCRIME Cybercrime is a crime committed using a computer, computer network or internet.

TYPES OF CYBERCRIME PHISHING ACCESS DEVICE FRAUD SMISHING SPOOFING IDENTITY THEFT

WHAT’S BELOW THE SURFACE

CREDIT CARD SECURITY Ask your financial institution about photo identification options and virtual account numbers to use on-line.

CREDIT CARD & DEBIT CARDS Always sign your card, if not you may violate the cardholders agreement

CYBERCRIME: THE FACTS Cybercrime has surpassed illegal drug trafficking as the major criminal moneymaker for Organized Crime Somebody’s identity is stolen every 3 seconds as a result of cybercrime Without a sophisticated security package, your unprotected PC can become infected within four minutes of connecting to the internet

TECHNICAL DEVICES AT RISK

SPOOFED WEBSITES

ONLINE BANKING ACCESS ACCOUNT INFORMATION USING INTERNET Account Balances Transaction History Loan Information Credit Card Data

ONLINE BANKING ACCESS ACCOUNT SERVICES USING INTERNET Apply for loans Advance lines of credit Inter-account transfers (between accts at same FI) Intra-account transfers (between to FIs) Deposit funds to accounts

REMOTE DEPOSIT CAPTURE Sign up online through online banking Service is available immediately after sign up $3,000 per day deposit limit No teller interaction

ROOT OF THE PROBLEM Perpetrated by Organized Crime Funds Terrorists Hurts the American Economy Contributes to Stress and Higher Prices for Goods and Services

RISK OF EXPOSURE TO SOCIAL ENGINEERING SCAMS Various online scams use social engineering to target online banking credentials Convenience services need very little information to activate and/or use Transactions are performed without the knowledge of the account holder

SKIMMERS

INTERNET SCAMS Charitable Contributions Lottery/Sweepstakes Winner Family Emergency/Financial Assistance Credit Card/Bank Account Verification Government Grants/Credit Repair Services Nigerian 419 Scams Romance Scams Overpayment Scams

QUESTIONS?