With online-banking fraud on the rise, small businesses like mine need additional protection options.
Trusteer Rapport software is one such option I’ve looked at recently, and it earns a thumbs-up.
Reasons to be paranoid about online banking
Brian Krebs’s reports on security are regularly cited in the Patch Watch column. But I’m especially fond of his dogged coverage of online-banking security issues for small businesses in the United States.
As someone who depends on online banking, I’ve read — with some horror — stories of small businesses whose password credentials have been stolen from their personal computers. Because business bank accounts are not insured by the FDIC against cyber crime, businesses have little or no recourse when funds are illegally transferred from their accounts. A particularly chilling example is detailed in a Feb. 19 post, “DDoS attack on bank hid $900,000 cyberheist.”
So what’s a (rightfully) paranoid businessperson to do? Start with the security basics: enforcing trustworthy computing on all your PCs. That includes not opening email attachments from unknown senders, trying to live without Java and Adobe Reader — both sources of recent zero-day attacks — and restricting access to unknown websites and social sites such as Facebook. (A recent story about Facebook employees letting in a zero-day Java attack, simply by browsing a developer website, makes me more paranoid than ever.)
Safe business computing also includes running computers with nonadministrator rights, as recommended in a Steve Friedl blog post — advice that applies to home PC users as well. Businesses should also regularly review and reconcile online-banking accounts to check for any illicit money transfers.
So what more can we do, besides disconnecting from the Net and unplugging our PCs? Not wanting to lose valuable customers, banks are adding applications and services for enhanced protection.