Business Users of Online Services


Recently, small to medium sized businesses have been primary targets as cyber criminals have recognized that the security controls they have in place are not as robust as that of larger businesses. 


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Business transactions, because of their frequency and dollar value, are inherently more risky than consumer transactions. In the last five years there has been a steep rise in the number of online account takeovers and unauthorized online fund transfers related to business accounts. But as the new FFIEC guidance suggests, with enhanced controls over administrative access and functions related to business accounts and layered security using multiple and independent controls, the number of these crimes will be greatly reduced.


How to Enhance Controls for your Business:

  • Perform a periodic risk assessment and an evaluation of the effectiveness of the controls in place to minimize the risks of online transaction processing.
  • Understand the security features of the software and websites you utilize and take advantage of these features. Segregation of duties (the process of separating duties so no one person can perform all steps of a transaction) is an example of a very important security feature.
  • Layered security options that may be available to business customers doing online transactions include transaction thresholds, out-of-band verification (such as telephone or email verifications), fraud detection and monitoring systems, and IP reputation-based services. The guidance encourages establishing layered security processes.
  • The password, website, and computer and network tips above provide a starting point for this process and the web resource links provide additional detailed information. The FTC Business Center has a great deal of information for businesses at:


To learn more about the consumer side of the FFIEC guidance, read our Fraud Prevention Tip articles Keeping Your Money Safe Online and Protect Yourself by Controlling Online Risks.

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Guest Monday, 30 November 2015


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