Corporate Account Takeover (CATO) Webinar on September 4
To: Presidents, Chief Executive Officers and Chief Operational Officers
From: Commissioner Jan Lynn Owen
Re: Corporate Account Takeover (CATO) Webinar
Corporate Account Takeover (CATO), a form of cyber-attack, can pose significant risks to financial institutions. So that you may be informed of these risks, I invite you to join representatives of the Conference of State Bank Supervisors (CSBS), state banking departments, Financial Services Information Sharing and Analysis Center (FS-ISAC) and The United States Secret Service for an informative webinar on CATO. This webinar will also discuss the CATO standards and Best Practices implemented by our department in September 2012. The invitation below contains more information about this important topic. Be sure to register for the webinar using the link below.
Thank you for your participation as we work together to protect all institutions against these types of cybercrimes.
State and federal authorities announced efforts to assist financial institutions in adopting best practices to reduce the risks of corporate account takeover (CATO). Corporate account takeover is a form of identity theft where cyber thieves gain control of a business’ bank account, often by stealing user passwords and other valid credentials. Once this information is obtained, thieves can then initiate fraudulent wire and ACH transactions.
This webinar will discuss the threat, provide an overview of the list of recommended processes and controls as well as regulatory expectations. The recommended processes and controls were developed by community bankers and are structured under the Protect, Detect, and Respond framework developed by the United States Secret Service, the FBI, the Internet Crime Complaint Center (IC3), and the Financial Services Information Sharing and Analysis Center (FS-ISAC). Subsequently, a set of Best Practices has been compiled for each of the recommended processes and controls.
Please note that there is a $55 registration fee to help cover the administrative costs of the webinar.
Wednesday September 4, 2013
3:00 PM - 4:30 PM Eastern Time Zone
To register for this event, click here.
For more information contact Patrick Carroll at firstname.lastname@example.org