Citi® Treasury and Trade Solutions | Be Vigilant of Digital Security Risks
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Digital security risks continue to evolve and pose a serious threat to businesses across the globe. It is important to remain vigilant and ensure all staff are aware of, and adhere to, your organization's security policies and procedures. It is especially important to remind staff during vacation periods of the approved escalation plans that account for executive decision maker absences.
Digital Security risks can increase when attackers perceive that a large number of employees will take annual leave and defenses may be weaker than usual due to lower staffing levels, the continued prevalence of remote working and other diversions. Therefore as we come into the a season where staff take annual leave in many parts of the world, we remind your organization to remain vigilant.
Please be sure to closely monitor your company's account activity and keep your systems updated with the latest patches and anti-virus software. With workplaces becoming more mobile, there are also additional risks with connecting mobile devices such as laptops and phones to public networks. Staff should be reminded to adhere to your organization's security policies and procedures to combat fraud, including being aware of key escalation contacts should they observe any suspicious activity. In particular, employees should exercise caution when receiving emails from outside and unknown sources, requests to change or add new account numbers, requests to pay invoices early, or other unusual requests.
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Search-Engine Ad Scams
Fraudsters publish fake ads on reputable search engines, which link to fraudulent imitations of Online Banking (or other) web pages. When the ad links are clicked, fraudsters use the data input by victims in the fake site to access the real one. Mitigate this risk by avoiding search-engine ads as links for access to important sites like Online Banking.
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Vishing
A form of fraud using social engineering to impersonate trusted officials over the phone or via text message. One example of vishing is criminals impersonating bank staff by phone, and requesting the victim's online banking login details and passcodes to address a fictional ‘security or fraud incident’. The details provided by the victim are used to execute fraudulent payments.
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Business Email Compromise
A long-standing scheme that exploits executive email accounts to execute fraudulent payments, continues to grow and evolve. In many recent cases, email is used by fraudsters to impersonate a legitimate supplier.
Discover the power of Citi solutions
Citi Cyber Security Toolkit
Citi Cyber Security Toolkit
Now available on Citi's Knowledge Exchange Center, the toolkit provides a range of resources to assist you in your efforts to protect your organization from cyber criminals. Explore the toolkit to keep up to date with some of the latest trends and threats, read practical guidance on the red flags to look out for, and learn what you can do in the event of fraud, such as:
What to do in the Event of Fraud
Beneficiary Change Request: Risks and Best Practices
Cyber Resilience: Trends and Improving Preparedness
Securing your Home Network
Beware of Ransomware
Watch this short video for some quick tips on protecting your organization:
5 Cybersecurity Tips to help protect your business
These materials and information contained herein are provided for informational purposes only. Citi reminds you that Citi's clients are responsible for their organizations' cybersecurity and all matters relating thereto, including but not limited to their organizations' cybersecurity policies and practices and the safeguarding of their computers and other devices, as well as any login credentials. These materials and information contained herein should not be viewed as any intention or commitment from Citi to replace your organization's cybersecurity-related responsibilities.
Treasury and Trade Solutions
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