TOPIC: Information Technology

Interactive (virtual) teller - signature

SVP at a bank ($2.2BUSA)
Good morning!

We are in the processing of going live with an interactive (virtual) teller machine. One issue that has come up is that the software does not capture and store an image of the customer's signature when making a withdrawal - it is only displayed for the teller to verify, then it is no longer displayed or saved.  

For those banks who are using this technology - has this posed an issue for you? What have you done to overcome this or mitigated the risks of not having the signature on a withdrawal?

    Guardian Analytics

    Manager at a bank ($488MUSA)
    Do any of you also use Guardian Analytics for Business Online & ACH anomaly detection? We're in the early stages of implementation and data gathering, but I was hoping some more seasoned users would be willing to share their daily process and what you look for/review. Thanks in advance!

      Are you prepared for the EOL Shockwave?

      Often, we take software that seems to have ‘always been there’ for granted, until suddenly it’s not supported.  At other times, ‘must have’ software fades into obscurity as it’s gradually replaced by alternatives.  Either way, you should be prepared for an End of Life (EOL) announcement just as much as you should for important software update announcements.
      This week it’s an announcement by Adobe.  They have announced the EOL for Adobe Shockwave, on April 9th, with extended support only for Enterprise customers.  This also means anyone who continues to use the software after April 9th is assuming a security risk because Shockwave will no longer be supported with security updates. 
      This is a great example of a piece of software that likely remains installed, albeit unused by many users.Staying informed about software updates are important to alleviate potential security risks; you should also stay informed of End of Life announcements.  Take a moment to see if it’s installed in the environment you maintain.  If you are using Shockwave, find a supported alternative soon.  If you don’t use this software, uninstall it.

        Intrusion Detection and Prevention Systems: Are they really working?

        Let’s face it, if you have a public IP you’re going to get some type of illegitimate access attempt directed at your network at some point. Probably multiple times per day. Just look at your firewall logs and alerts sometime. If you are not, you should be; daily.

        If you don’t have one or are not familiar with the concept, an Intrusion Detection and Prevention System (IDS/IPS) will actively detect and prevent malicious or unwanted attempts at access. Your IDS/IPS can be deployed as local software, appliances, Software as a Service (SaaS) solutions (or a hybrid), or potentially as separate systems – detection (IDS) and prevention (IPS) in separate parts. The usual deployment; however, is an IDS/IPS that that prevents as it detects. These systems perform their tasks based on definitions and/or heuristic techniques and may be monitored by a third-party Security Operations Center that can alert you and/or act on your behalf.

        If you don’t have IDS/IPS, you might be saying, “Isn’t my firewall good enough?” Well, a stateful inspection firewall is an absolute must. But even though you might have integrated inspection enabled, your firewall only passively stops what was defined in the last firewall OS release; and what you tell it to through Access Control Lists associated with zones or interfaces. That’s where IDS/IPS steps it up and may be something you can add to or enable on your firewall.

        After a few consulting hours, (maybe the purchase of a new firewall or appliance) and certainly the signing of some type of maintenance contract, you’ve committed many dollars in infrastructure changes to add an IDS/IPS. Things are ticking along great, right?

        Have you bothered to test whether the fancy new system is really doing what it the sales guy said it will do?

        A famous former President was very fond of this Russian proverb: Trust but verify.

        Have your IDS/ IPS checked by someone other than the vendor to ensure it is detecting and preventing while not impacting your network performance. Impact? Yes, impact. Another 1 or 2 seconds per transaction multiplied by the transaction volume and number of impacted employees or customers adds up quick. Time is money.

          Collaborative Investigations: Connecting the Dots to Stop Crime - Join us on March 20

          March 20 at 12:30 PM - 01:30 PM EST
          Collaborative Investigations: Connecting the Dots to Stop Crime
          How sharing information can help provide actionable intelligence to law enforcement

          Register now: https://verafin.com/event/collaborative-investigations-connecting-the-dots-to-stop-crime/?src=cbanc

          Fraudsters and money launderers do not limit their illicit activities to a single institution. As crime rings evolve, they find new and innovative ways to avoid detection, creating challenges for financial institutions to uncover connected criminal activity.

          Collaboration is a critical tool that helps you see the complete picture of activity across multiple institutions, ultimately mitigating risk and reducing losses. Verafin combines the power of cross-institutional analysis in the cloud with collaboration tools, enabling institutions to work together to strengthen investigations into crime ring activity.

          Join us to learn how Verafin helps you connects the dots on crime with cross-institutional alerts and information sharing. Learn how our approach will warn you of potential risks or connected criminal activity that spans multiple institutions, allowing you to collaborate with investigators for stronger cases and improved reporting to law enforcement.

          Highlights of this presentation on Collaborative Investigations will include:

          • Best practices for 314(b) information sharing including collaborating on potential money laundering activity and Specified Unlawful Activities (SUAs).
          • Walk through of real-life examples of crime ring activity
          • Demonstration of crime ring detection to alert you and related institutions to connected criminal activity
          • Overview of collaboration functionality in Verafin allowing you to securing share information with other 314(b) institutions in a single integrated platform.
          • Overview of multi-institution Joint Work Product in Case Management that allows multiple investigators to contribute to a shared investigation.

          Register now: https://verafin.com/event/collaborative-investigations-connecting-the-dots-to-stop-crime/?src=cbanc

          Blob

            The Low-Down on Multi-Factor Authentication

            Something You Have; Something You Know
            There are a number of different types of Multi-factor authentication (MFA), but which is right for your organization? What should employees and Management know about MFA prior to implementing for your VPN access, administrator sessions to sensitive systems, or secure web-portals? Take a deeper dive into MFA on our blog, https://10dsecurity.com/the-low-down-on-multi-factor-authentication/ .

              A picture is worth a thousand words! Network Diagrams.

              This is especially true when talking about network diagrams. A network diagram is a roadmap that helps you illustrate and document what a network looks like, and how things are connected.

              The following diagrams should be maintained:

              1. WAN topology that clearly shows all ISP, VPN, and WAN connections, wireless connections, LAN segments along with router, firewall
                and IDS implementations.
              2. Individual LAN topologies showing default gateways, DNS implementation, all servers, and all network devices.

              Here are some key elements of good network diagrams:

              1. Keeping a diagram current and accurate is important, so network diagrams should be updated at least quarterly or after network
                changes.
              2. Label items with a name, function, and IP address(s).
              3. The look and feel of the diagrams should be consistent, and a common set of visual objects should be used where possible.
              4. Network diagrams should also contain a title that clearly defines the nature of the diagram, confidential statement notice, name of
                the author, and date of creation / last update.

              If you outsource your IT, make sure your vendor is providing you with current and accurate diagrams.

                BSA/AML Compliance, Fraud Detection & High-Risk Customer Management - Join us on Feb. 27

                A Consolidated Solution to Fight Financial Crime
                February 27 at 12:30 PM - 01:30 PM EST

                Register now: https://verafin.com/event/bsa-aml-compliance-fraud-detection-high-risk-customer-management-2/?src=cbanc

                Today’s criminals do not limit their illicit activities to a single financial institution. More and more, multiple institutions are targeted for increasingly complex financial crimes. As these criminals evolve, traditional approaches to combat crime are largely ineffective.

                Single institutions with siloed departments lack the visibility necessary to see the bigger picture, often seeing only a very small component of the crime within their data. These isolated teams often deploy point solutions that use broad rules in an attempt to catch suspicious or fraudulent activity – an approach that perpetuates the industry-wide problem of false positives. The solution? Working together to fight crime, in the same way criminals work together to exploit victims and institutions.

                So, why choose Verafin?

                Unlike first generation systems, Verafin builds deep analytical models for you, and uses machine learning and artificial intelligence to keep you ahead of evolving financial crime trends. Verafin’s FRAMLx software includes highly targeted detection scenarios that are enriched with open-source and third-party data, and provides cross-institutional analysis and collaboration through the power of the cloud. The result? Higher-quality alerts, expedited investigations, and richer, more detailed reporting.

                • Integrated CDD/EDD and intelligent segmentation of high-risk customers including a Customer Due Diligence Questionnaire, high-risk customer identification analytics, stratified risk-models for high-risk customers and automated risk-reviews.
                • Targeted AML and Fraud scenarios including structuring, international activity, terrorist financing, human trafficking and funnel accounts, first-party deposit fraud, deposit fraud scams, online account takeover, wire & ACH fraud, debit card fraud, and loan fraud.
                • Risk-rated alerts enriched with third-party, open-source, and cloud data that provide you with more information at your fingertips, and help you expedite investigations and strengthen reporting.
                • FRAMLx cross-institutional detection and 314(b) information sharing including Risky Entity Analysis, and facilitating collaboration with investigators at any 314(b)-registered institutions.
                • End-to-end BSA compliance and process automation including regulatory reporting for SARs and CTRs, OFAC/Watchlist scanning, Case Management, Enterprise Reporting, etc.

                Register now: https://verafin.com/event/bsa-aml-compliance-fraud-detection-high-risk-customer-management-2/?src=cbanc

                Blob

                  5 Things Banks Should Know about Email Marketing

                  According to a 2017 Econsultancy report (from thefinancialbrand.com, "10 Essential Email Marketing Insights for Banks & Credit Unions"), marketers rate email as a tactic that has one of the highest returns on investment. This can be true when email marketing is done right. But when done wrong, the consequences can be bad (and even ugly!).

                  LISTEN: To learn how businesses can successfully leverage email marketing, listen to this podcast from Bankers Healthcare Group listed at the bottom.

                  DOWNLOAD: We’ve also summarized the five biggest takeaways from the episode in the attached doc.

                    Synthetic Identity Fraud: Unreal Identities Result in Real Fraud Losses - Join us on Feb. 14

                    Webinar
                    February 14 at 12:30 PM - 01:30 PM EST
                    Synthetic Identity Fraud: Unreal Identities Result in Real Fraud Losses

                    Register now: https://verafin.com/event/synthetic-identity-fraud-unreal-identities-result-in-real-fraud-losses/?src=cbanc

                    In this digital age, vast amounts of compromised customer information from data breaches and fraud scams is readily available for purchase on the dark web. To further their illicit schemes, fraudsters can use your customer’s personal and financial information to create fictional or partially fabricated identities in an emerging trend known as synthetic identity fraud.

                    With combinations of fake and real identifying information, fraudsters use these synthetic identities to apply for new accounts, products or auto loans. Crime rings often utilize synthetic identities in large, ongoing financial fraud schemes, repeating these crimes at multiple institutions, exponentially increasing the potential for loss.

                    Join us as we discuss the challenges facing financial institutions when combatting synthetic identity fraud in various forms of financial crime, such as loan fraud, deposit fraud, electronic transfer fraud, and new account fraud.

                    In this presentation we will discuss:

                    • The scale of synthetic identity fraud and how it relates to other financial crimes
                    • Common ploys fraudsters use to commit synthetic identity fraud
                    • Challenges facing financial institutions to mitigate fraud losses involving synthetic identity fraud and other evasion methods
                    • Real-life examples of fraud schemes and crime rings employing synthetic identity fraud and related illicit activities
                    • Best practices and innovative approaches for fraud detection and investigation

                    Register now: https://verafin.com/event/synthetic-identity-fraud-unreal-identities-result-in-real-fraud-losses/?src=cbanc

                    Blob

                      DNS and MFA

                      DNS and MFA
                      On January 22, 2019, the Department of Homeland Security (DHS) Cybersecurity and Infrastructure Security Agency (CISA) issued an emergency directive with the subject, “Mitigate DNS Infrastructure Tampering” ordering all federal agencies to secure login credentials for their internet domain records. Required actions include auditing DNS records, changing DNS account passwords, adding multi-factor authentication to DNS accounts, and monitoring certificate transparency logs to detect prior unauthorized certificate issuance. This directive was issued in response to an uptick in attacks on websites and email servers by altering DNS records.

                      CISA Director Christopher C. Krebs wrote in the emergency directive:

                      “Using the following techniques, attackers have redirected and intercepted web and mail traffic, and could do so for other networked services:

                      1. The attacker begins by compromising user credentials, or obtaining them through alternate means, of an account that can make changes to DNS records.

                      2. Next, the attacker alters DNS records, like Address (A), Mail Exchanger (MX), or Name Server (NS) records, replacing the legitimate address of a service with an address the attacker controls. This enables them to direct user traffic to their own infrastructure for manipulation or inspection before passing it on to the legitimate service, should they choose. This creates a risk that persists beyond the period of traffic redirection.

                      3. Because the attacker can set DNS record values, they can also obtain valid encryption certificates for an organization's domain names. This allows the redirected traffic to be decrypted, exposing any user-submitted data. Since the certificate is valid for the domain, end users receive no error warnings.

                      To address the significant and imminent risks to agency information and information systems presented by this activity, this emergency directive requires the following near-term actions to mitigate risks from undiscovered tampering, enable agencies to prevent illegitimate DNS activity for their domains, and detect unauthorized certificates.”

                      While this directive was aimed at federal agencies, all institutions should heed this warning and secure access to their public DNS account with multi-factor authentication.

                        Is This Partnership a Right Fit? More than 50 Banks Found Out Firsthand.

                        In January, 56 community banks from 20 states joined Bankers Healthcare Group for a behind-the-curtain experience at our Informational Regional Seminar in Nashville, Tenn.

                        Our 75 attendees heard from BHG’s Founder/Chairman/CEO Al Crawford and c-suite leadership team in finance, credit, underwriting, compliance, marketing, sales, and analytics. This was a great opportunity for them to learn about our business model, commercial medical loan program and financial strength, and uncover new revenue opportunities for their banks.

                        We had a great mix of prospective customers and current customers from some of BHG’s 940 bank partners, which gave everyone a chance to network and learn. Prospective customers love to hear about the experiences of current customers, while current customers appreciate the business and product updates, as well as the opportunity to connect with key BHG contacts.

                        Our seminars are a great way to get to know BHG—and we hold them throughout the year, across the country. If you’d like to attend an upcoming seminar, please email bhgbanks@bhg-inc.com or call 877-731-6562 to get the details!

                        About BHG: Bankers Healthcare Group (BHG) is the leading provider of financial solutions for licensed healthcare professionals. The company originates, underwrites and funds medical and professional loans before selling them to local banks nationwide.

                        To date, BHG has underwritten nearly $15 billion in commercial loan requests with an average size of $100,000, providing a network of more than 940 U.S. community banks a source for premium loans, portfolio diversification, and competitive yields without overhead costs traditionally associated with this quality borrower. Banks purchase BHG loans through a secure, online system that allows for daily sale and delivery of loans. This has been a highly effective channel for a bank to quickly approve and purchase loans according to their underwriting standards. BHG’s 2018 sales distribution has averaged $4 million per day and new loans are posted daily.

                        Pinnacle Financial Partners, Inc., and its subsidiary Pinnacle Bank hold a 49% total interest in BHG.

                          What do ISO's need to know?

                          The role of the Information Security Officer is ever-changing, and the knowledge base required goes beyond patch management and tracking IT assets. This certification course outline gives you an idea of the topics we drill down in during the training. and highlights the skills required of a well-rounded ISO.

                          This one of a kind course was developed by industry experts, former examiners, and CISSP professionals to share the wealth of knowledge and insight accumulated from years on the banking side, the cybersecurity side, and the regulatory side. Your ISO leaves with the tools to secure your network, bringing you peace of mind. Plus, the opportunity to become a Certified Banking Information Security Officer (CBISO). The training meets FFIEC annual training requirements. Our 2019 courses will be in:

                          For more information, visit: www.10dacademy.com.

                            Infographic: Marijuana-Related Businesses – The risks and rewards of banking a multi-billion-dollar industry

                            Marijuana-related businesses (MRBs) have been receiving a lot of attention lately. This growing industry is already worth $7 Billion in the U.S., with that number projected to more than quadruple over the next 8 years, creating many questions for financial institutions around banking MRBs.

                            This infographic provides a handy introduction to the world of MRBs, quickly mapping marijuana law by state, examining the number of businesses that have been flagged as marijuana-related in the Verafin Cloud to date, and offering insight into identifying and assessing related compliance risk.

                              Educational Seminar in Nashville, 2019

                              See why more than 925 of your peers have purchased loans from Bankers Healthcare Group, at the upcoming Nashville Info Seminar.

                              • Engaging seminar - Hear from the Founder/CEO and the c-suite leadership team in finance, credit, regulatory, marketing, sales and analytics.
                              • Understand the 5 convenient, hassle-free methods to purchase loans.
                              • Discover additional revenue opportunities for your bank:
                                • Consumer loans to licensed medical and other professionals
                                • Patient lending – connecting community banks to hospitals and surgery centers
                              • Network with key BHG personnel and other community banks from around the US.

                              Email us at bhgbanks@bhg-inc.com or call 866-461-5069 to find out the details!

                              "The BHG Info Seminar was an excellent experience. We are new to BHG, having just purchased our first loan last month. It’s was a valuable experience to have the company’s staff answer your questions and talk to other banks who have experience with BHG. I was able to learn how they manage their portfolio and loan terms. The event was first-class, all the way. I came away very impressed with BHG." – Minnesota Bank President

                              About BHG: Bankers Healthcare Group (BHG) is a well-established, direct lender that has a commercial loan program specifically tailored to the business needs of licensed healthcare and other professionals. BHG has provided over $4 billion of these originated, underwritten and funded loans to 925+ community banks throughout the US since 2001.