Threats to your business

Corporate Account Takeover is a form of corporate identity theft where a business’ online credentials are stolen by malware. Criminal entities can then initiate fraudulent banking activity. Corporate Account Takeover involves compromised identity credentials and is not about compromises to the wire system or ACH Network. ACH fraud and wire fraud, terms mistakenly used to describe this type of criminal activity, are a misnomer. The ACH Network is safe and secure.

To obtain access to financial accounts, cyber criminals target employees– often senior executives or accounting and HR personnel- and business partners and cause the targeted individual to spread malicious software (or "malware") which in turn steals their personal information and log-in credentials.

Once the account is compromised, the cybercriminal is able to electronically steal money from business accounts. Cyber criminals also use various attack methods to exploit check archiving and verification services that enable them to issue counterfeit checks, impersonate the customer over the phone to arrange funds transfers, mimic legitimate communication from the financial institution to verify transactions, create unauthorized wire transfers and ACH payments, or initiate other changes to the account.

In addition to targeting account information, cyber criminals also seek to gain customer lists and/or proprietary information - often through the spread of malware - that can also cause indirect losses and reputational damage to a business.


Cyber Security Survival Guide
Small Business Guide to Corporate Account Takeover
10 Cybersecurity Strategies for Small Businesses
NACHA - Sound Business Practices for Companies to Mitigate Corporate Account Takeover

Additional Resources

A Letter to our Business Customers Regarding Corporate Account Takeover
Fraud Advisory for Businesses: Corporate Account Takeover

Federal Trade Commission - Privacy & Security
The Federal Trade Commission (FTC) website contains a Privacy & Security section containing a list of facts for consumers, articles, consumer alerts, and more.
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Deter, Detect, and Defend Against Identity Theft
This website, published by the Federal Trade Commission (FTC), is a national resource to learn more about the crime of identity theft. On this site, consumers can learn how to avoid identity theft and learn what to do if their identity is stolen.
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BBB Data Security - Made Simpler
The Better Business Bureau (BBB) created this website specifically to educate small businesses on the most common data security issues they face. Data security guidelines and suggestions are presented to help improve the security posture of small businesses.
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Bureau of Consumer Protection - Data Security
The Bureau of Consumer Protection Business Center website contains a data security section with material to help people learn how to secure their information. The website section contains a list of educational documents discussing information security, information about data security related laws, reports, workshops, and more. It also has an interactive tutorial over protecting personal information.
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Small Business Information Security: The Fundamentals
This guide was published by the National Institute of Standards and Technology (NIST). The guide identifies recommended practices to improve information security in small businesses.
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