GSB Bank Technology Security School

Strategies to Safeguard Your Bank

Online bank fraud has been described as epidemic, with numbers that are staggering -- it's estimated that U.S. banks lose $1.5 billion to phishing attacks annually. Consider also that mobile devices are now ubiquitous and hackers are getting ever-more sophisticated in their ability to gain access to sensitive data and it's clear that there is a need for proactive IT security offense and defense to stop attacks including phishing, malware, coordinated denial of service attacks, hacktivist breaches and more. The threats to the banking sector are multiple and significant -- both financially and reputationally. Today's bank customer is rightfully concerned about online banking fraud and studies show that the majority of customers would change banks if they became a victim of fraud at their current institution. Security breaches not only cost significant dollars, but they also erode consumer trust. Being proactive is key.