Pub. 6 2017 Issue 3

April/May 2017 25 L E A D I N G A D V O C A T E F O R T H E B A N K I N G I N D U S T R Y I N K A N S A S phishing attacks to keep employees on their toes and help them recognize what a phishing attempt might look like. Advise employees not to click on links or open attachments or emails from those they do not regularly do business with. • Use Superior Security Technology. Even with proper training, employees may open an attachment or visit an infected site. That is why it is necessary for banks to take other standard security technology measures, such as ensuring a firewall is in place. Anti-virus software should be used to detect and prevent infection, while Web and email filtering software should be used to reduce exposure. It is important to apply security patches and regularly update all security software. • Segregate Access. Managing user access to data can lessen the risk of a successful ransomware attack. The number of employees with administrative access should be limited, and access should not be assigned unless absolutely necessary. Employees should only have access to the files or directories that are relevant to their job functions. Networks and data should be separated for each organizational unit. In Case of an Attack Despite a bank’s best efforts to protect against ransomware, an incident may still occur. If it does, both the FBI and the Federal Financial Institutions Examination Council (FFIEC) encourage ransomware victims to notify law enforcement immediately. Law enforcement officials, such as the FBI, can assist in determining whether or not it is in the bank’s best interest to pay the ransom. In addition, the FFIEC recommends notifying the appropriate bank regulatory authority of any ransomware incident, and possibly filing a Suspicious Activity Report. Banks may also file a notice of a ransomware incident on the FBI’s Internet Crime Complaint Center at www.ic3.gov. A Costly Crime Ransomware is a rising threat for U.S. businesses as an increasing number of cyber criminals adapt it as their newest method of extortion. According to the FBI, these criminals collected $209 million in the first quarter of 2016-which puts ransomware on pace to be a $1 billion crime in 2016. Banks must take preventative measures to avoid falling victim to a ransomware scheme and suffering potentially irreparable losses. About OneBeacon Financial Services OneBeacon Financial Services offers property and casu- alty coverages for commercial banks, savings banks and savings and loan institutions, security broker- dealers, investment advisors, insurance companies and credit unions. Specialty coverages, including professional liability, trust errors & omissions, cyber liability and financial institution bond are additionally available for institutions with less than $3 billion in assets. Contact Us To learn more about how OneBeacon Financial Services can help you manage your unique risks, please contact Craig M. Collins, President, at ccollins@onebeacon.com or 952.852.2434. Member FDIC | © 2016 INTRUST Bank | Equal Housing Lender Good relationships build business. Business. It’s the link that holds your community together. As a family-owned, Midwest-based financial institution, we understand the importance of local business and built our foundation by developing trusted relationships. Our goal is, and always will be, to be a proactive partner by providing the best financial solutions so you, and your community, can thrive. Call us at 800-732-5120 or visit intrustbank.com .