Citizens Bank offers tips for Cyber Security Awareness Month

CITIZENS FINANCIAL Group Inc. is the Providence-based parent company of Citizens Bank, the largest Rhode Island-based bank. / BLOOMBERG FILE PHOTO/KELVIN MA
CITIZENS FINANCIAL Group Inc. is the Providence-based parent company of Citizens Bank, the largest Rhode Island-based bank. / BLOOMBERG FILE PHOTO/KELVIN MA

PROVIDENCE – To mark Cyber Security Awareness Month this October, Citizens Bank has offered eight tips for handling email.

“Handling email can be a challenge as our inboxes have become inundated and we have less time to manage the information flow,” said Michael Cummins, head of Treasury Solutions at Citizens Bank, in a statement. “Hackers are coming up with new ways to attack systems, so it is important for business executives to remain vigilant and not make it easy for them to gain access.”

Citizens recommends the following:

  • Treat email with caution – Email is a gateway into your computer and personal information, so make sure you only open emails/attachments from known senders and, in general, be wary of emails with attachments and links.
  • Check for spoofed (i.e. false and deceptive) domain names – This can help you identify if someone might be launching a Business Email Compromise scam against your company.
  • Limit publicly available information – Criminals use public information to target companies for BEC scams.
  • Implement a formal process for money transfers and documentation requests – Ensure there is a formal process for high-risk transactions such as wire transfers and requests for sensitive documentation.
  • Require dual approval for high-risk transactions – Segregation of duties and including more than one individual in a transaction is a great way to help mitigate external and internal fraud.
  • Use Forward instead of Reply – When receiving an email requesting a money transfer or for sensitive information, using forward and sending it back to the intended recipient can help you avoid falling victim to a BEC scam that utilizes a spoofed domain.
  • Use Out-of-Band to Verify – Use a different channel to verify. If the request came in via email, use phone and vice versa.
  • Don’t get complacent – Fraud is ever-changing, keep up to date with the latest fraud trends by visiting citizensbank.com/security and other online sources such as staysafeonline.org.

“The most important tip may be the last one: Don’t get complacent,” Cummins added.

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