Business Email Compromises can happen. Are you ready?

security_awareness_image

With Business Email Compromise, legitimate business email accounts are either compromised or impersonated, and then used to order or request the transfer of funds. The fraudster will often compromise one of the business’ officers and monitor his or her account for patterns, contacts and information. Using information gained from social media or “out of office” messages, the fraudster will often wait until the officer is away on business to use the compromised email account to send payment instructions.

Avoid Being a Victim

Solid internal controls are key to guarding against these scams.

  • Understand these attacks can come via email, phone calls, faxes or letters in the mail. Don’t assume it’s a cybersecurity problem.
  • Educate and train employees to recognize, question, and independently authenticate changes in payment instructions, requests for secrecy, or pressure to take action quickly.
  • Authenticate requests to make payment or change payment information.
  • Review accounts frequently.
  • Initiate payments using dual controls.
  • Never provide password, username, authentication credentials, or account information when contacted.
  • Don’t provide nonpublic business information on social media.
  • Avoid free web-based email accounts for business purposes. A company domain should always be used to establish company personnel emails.
  • To make impersonation harder, consider registering domains that closely resemble the company’s actual domain.
  • Do not use the “reply” option when authenticating emails for payment requests. Instead, use the “forward” option and type in the correct email address or select from a known address book.
  • Don’t share your credentials with coworkers.
  • Ensure your computer has current Anti Virus/Malware software.
  • Best practice is to have a dedicated computer for performing business banking and financial transactions.

Source: NACHA, Protecting against Fraud: How to spot and prevent fraud schemes.

If you have any questions please contact Treasury Management Officer, Scott Walters, at 402-323-8274 or via email: scott.walters@CornhuskerBank.com

 

 

SEVERE SPRING/SUMMER WEATHER ~ Safety and Insurance

Beautiful young woman in raincoat with umbrella checking for rain

The spring and summer months are a time for barbeques, swimming by the pool, and yard work. They also are a time for severe weather…thunderstorms, hail, floods, and tornados. Severe weather can cause a considerable amount of damage to your home, car, and property. So, how can you make sure your belongings are protected in the event of severe weather? The following tips can help!

Before the storm:

Be sure you have adequate coverage and deductibles that are reasonable for your needs by examining your homeowner or renter’s coverage, as well as auto insurance policies.

Tornadoes are considered “wind-storms” and damages caused by them are covered under homeowners insurance policies. If a tornado damages your car, protection is provided under the comprehensive portion of your auto policy.

Compile a detailed written inventory of your home and belongings, and supplement that inventory with a videotape or photographs. Keep the inventory off-premises in a safety deposit box. This will assist in settling claims.

Check on the necessity and availability of flood insurance in your area. Flood insurance is not included in typical homeowner and renter’s insurance policies. Call the National Flood Insurance Program at 1-800-638-6620 to learn about flood insurance in your neighborhood.

Check to see if your policy has “loss of use” or “additional expense” coverage. This will help pay for temporary housing if you can’t stay in your home due to damage caused by a storm. Many policies cover such expenses up to a stated amount.

During the storm:

Create an emergency plan, including places the family will gather in response to emergency weather alerts.

When at home or in a building and threatening weather approaches, go to the basement or interior hall. Stay away from windows.

Keep on hand basic supplies like water, food, flashlights and a battery-operated radio.

If you’re in a car or mobile home when a tornado approaches, leave immediately. Do not try to outrun a tornado. If you cannot locate immediate underground shelter, lie flat in a gully or ditch. Do not get under an overpass or a bridge!

After the storm:

Call your insurance agent as soon as you can.

Try to protect your property and salvage what you can.

Closely inspect property and cars for damage. Note and photograph any damage and losses. This will assist in settling claims.

Be sure your agent knows how to contact you if you can’t stay in your home.

Above all, do not make a hasty settlement. If possible, seek assistance from a third party.

Be sure everything is considered in your claim. Back up claims with written estimates.

Beware of home repair rip-offs. Carefully check the background of contractors and others who promise “cheap” repairs. Don’t pay the entire cost of repairs up-front, and try to only do business with local, established contractors. Before signing any contract, read the entire document, and contact your local Better Business Bureau to see if the company has a good customer service record.